New online service for registered intermediaries – Applying for exemptions
As of June 26, 2018, Corporations Canada has been offering a new online service allowing registered intermediaries to file applications for certain exemptions under both the Canada Business Corporations Act (CBCA) and the Canada Not-for-profit Corporations Act (NFP Act).
Registered intermediaries will now be able to file an exemption application through the Online Filing Centre and pay for it in an integrated online process rather than having to submit multiple paper documents. Once submitted, the person examining the application will follow up directly with the requestor.
This new, quick and easy filing method does not however change the tests that have to be satisfied in order to grant an exemption. Exemptions relate only to specific requirements set out in the CBCA and the NFP Act, and can only be granted when the required criteria of a particular exemption are met.
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