New Business Corporations Legislation

New Business Corporations Act and Regulations, which improve flexibility for business corporations in Saskatchewan, took force on March 12, 2023.

The following Corporate Registry changes were implemented to align with The Business Corporations Act, 2021:
  • Acceptance of corporate names in Cree, Dené, Michif, Lakota, Nakota, Dakota, or Saulteaux in the Corporate Registry.
  • More flexibility regarding appointment of directors, officers, and power of attorneys (POAs).
      • Removal of requirement that 25% of directors are Canadian residents.
      • Saskatchewan and extra-provincial Business Corporations must have either a director or officer with a Saskatchewan residence; or, if there is not a Saskatchewan-resident director or officer, a POA must be appointed.
      • A POA may be optionally appointed even if there is a Saskatchewan-resident director or officer.
  • Removal of the requirement and related costs to publish corporate events in The Saskatchewan Gazette impacts numerous Business Corporations events in the Corporate Registry including:
      • Incorporations, Registrations, and Amalgamations;
      • Amendments with a name change; and
      •  Closure events such as Cancellation and Dissolution.
  • The title of “Director of Corporations” was updated to “Registrar of Corporations.” Corporate Registry forms, correspondences, and certificates reflect the change in title.
  • Clarifying language regarding what constitutes a wholly owned subsidiary allows for more flexible and efficient amalgamations, resulting in the following changes to amalgamation forms:
    • Short form Amalgamation forms now collect Holding Corporation information and include a declaration to confirm all of the amalgamating entities are wholly owned by the by Holding Corporation.
In addition to the legislative changes noted above, customers will see some cosmetic changes to banners, headers, and logos in the Corporate Registry application and on Corporate Registry forms. Furthermore, all Corporate Registry paper forms have a more user-friendly layout and are a fillable PDF format; and profile reports will have a new look..