Canada Business Corporations Act (R.S.C., 1985, c. C-44)
Full Document:
Act current to 2012-05-02 and last amended on 2011-11-29. Previous Versions
Application
Marginal note:Application of Act
3. (1) This Act applies to every corporation incorporated and every body corporate continued as a corporation under this Act that has not been discontinued under this Act.
(2) [Repealed, 1991, c. 45, s. 551]
Marginal note:Certain Acts do not apply
(3) The following do not apply to a corporation:
(a) the Canada Corporations Act, chapter C-32 of the Revised Statutes of Canada, 1970;
(a.1) the Canada Not-for-profit Corporations Act;
(b) the Winding-up and Restructuring Act; and
(c) the provisions of a Special Act, as defined in section 87 of the Canada Transportation Act, that are inconsistent with this Act.
Marginal note:Limitations on business that may be carried on
(4) No corporation shall carry on the business of
(a) a bank;
(a.1) an association to which the Cooperative Credit Associations Act applies;
(b) a company or society to which the Insurance Companies Act applies; or
(c) a company to which the Trust and Loan Companies Act applies.
Marginal note:Limitations on business that may be carried on
(5) No corporation shall carry on business as a degree-granting educational institution unless expressly authorized to do so by a federal or provincial agent that by law has the power to confer degree-granting authority on an educational institution.
- R.S., 1985, c. C-44, s. 3;
- 1991, c. 45, s. 551, c. 46, s. 595, c. 47, s. 719;
- 1992, c. 1, s. 142;
- 1994, c. 24, s. 3;
- 1996, c. 6, s. 167, c. 10, s. 212;
- 1999, c. 31, s. 63;
- 2001, c. 14, s. 2(F);
- 2007, c. 6, s. 399;
- 2009, c. 23, s. 309.
Purposes of Act
Marginal note:Purposes
4. The purposes of this Act are to revise and reform the law applicable to business corporations incorporated to carry on business throughout Canada, to advance the cause of uniformity of business corporation law in Canada and to provide a means of allowing an orderly transferance of certain federal companies incorporated under various Acts of Parliament to this Act.
- 1974-75-76, c. 33, s. 4;
- 1978-79, c. 9, s. 1(F).
PART II
INCORPORATION
Marginal note:Incorporators
5. (1) One or more individuals not one of whom
(a) is less than eighteen years of age,
(b) is of unsound mind and has been so found by a court in Canada or elsewhere, or
(c) has the status of bankrupt,
may incorporate a corporation by signing articles of incorporation and complying with section 7.
Marginal note:Bodies corporate
(2) One or more bodies corporate may incorporate a corporation by signing articles of incorporation and complying with section 7.
- 1974-75-76, c. 33, s. 5;
- 1978-79, c. 9, s. 1(F).