O. Reg. 246/05: GENERAL

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ontario regulation 246/05

made under the

business corporations act

Made: May 18, 2005
Filed: June 1, 2005
Printed in The Ontario Gazette: June 18, 2005

Amending Reg. 62 of R.R.O. 1990

(General)

1. Subsection 11 (2) of Regulation 62 of the Revised Regulations of Ontario, 1990 is revoked and the following substituted:

(2) A corporate name shall not be primarily or only a combination of punctuation marks or other marks that are permitted under section 20 and the first character of the name shall be a letter of the Roman alphabet or an Arabic numeral.

2. Paragraph 11 of section 15 of the Regulation is revoked.

3. Section 20 of the Regulation is amended by adding the following mark:

@

4. Section 21 of the Regulation is revoked and the following substituted:

21. (1) The name of a corporation shall not exceed 120 characters in length, including punctuation marks and spaces.

(2) The name of a corporation shall be set out in articles or applications filed with the Director in block capital letters and with only one space between each word.

5. Subsection 24.1 (2) of the Regulation is revoked and the following substituted:

(2) Articles of incorporation and their supporting documents may be submitted in electronic format for filing with the Director if,

(a) the person submits them in a format compatible with the technical requirements established by the Director;

(b) the corporation agrees to keep a paper or electronic copy of the NUANS report referred to in subsection 18 (1) and any consent or consent and undertaking required under the Act or the regulations at the corporation’s registered office and to permit any person to inspect and copy the documents during the corporation’s normal business hours; and

(c) the corporation agrees that, upon receipt of a written notice from the Director, it shall provide the Director or any other person specified in the notice with a copy of any of the documents referred to in clause (b) within the time period set out in the notice.

6. Sections 40 and 41 of the Regulation are revoked and the following substituted:

40. (1) Subject to subsection (2), the financial statements referred to in Part XII of the Act shall be prepared in accordance with the standards, as they exist from time to time, set forth in the Handbook of the Canadian Institute of Chartered Accountants.

(2) An offering corporation may prepare the financial statements referred to in Part XII of the Act in accordance with the standards, as they exist from time to time, of the Financial Accounting Standards Board of the United States if permitted by the Securities Act or the Rules made under section 143 of that Act.

41. (1) Subject to subsection (2), the auditor’s report referred to in Part XII of the Act shall be prepared in accordance with the standards, as they exist from time to time, set forth in the Handbook of the Canadian Institute of Chartered Accountants.

(2) The auditor’s report of an offering corporation referred to in Part XII of the Act may be prepared in accordance with the standards, as they exist from time to time, established by the Financial Accounting Standards Board of the United States if permitted by the Securities Act or the Rules made under section 143 of that Act.

 

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