As of July 29, 2013, incorporation applications can be submitted to the Registrar of Companies in British Columbia to incorporate Community Contribution Companies, a new hybrid company established for community purposes.
There are certain requirements placed on Community Contribution Companies that are different from other companies. Before submitting an incorporation application, don't forget that Community Contribution Companies must have:
- the words "Community Contribution Company" or the abbreviation "CCC" as part of its name;
- a minimum of 3 directors; and
- one or more primary purposes being community purposes and those community purposes must be set out in its articles.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.