Bill 76 2006

An Act to amend the Business Corporations Act with respect to veterinary professional corporations

Note: This Act amends the Business Corporations Act. For the legislative history of the Act, see Public Statutes - Detailed Legislative History on www.e-Laws.gov.on.ca.

Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

1.  Subsection 3.1 (1) of the Business Corporations Act is amended by adding the following definition:

"veterinary professional corporation" means a corporation incorporated under this Act that holds a valid certificate of authorization issued under the Veterinarians Act. ("société professionnelle de vétérinaires")

2.  (1)  Clause 3.2 (6) (a) of the Act is repealed and the following substituted:

(a) exempting classes of professional corporations that are health profession corporations, as defined in subsection 1 (1) of the Regulated Health Professions Act, 1991, or veterinary professional corporations from the application of subsections (1) and (5) and the other provisions of this Act and the regulations that are specified and prescribing terms and conditions that apply with respect to the exempted professional corporations in lieu of the provisions from which they are exempted;

(2)  Clauses 3.2 (6) (b) and (c) of the Act are amended by striking out "those health profession corporations" wherever that expression appears and substituting in each case "those exempted professional corporations".

Commencement

3.  This Act comes into force on the day it receives Royal Assent.

Short title

4.  The short title of this Act is the Business Corporations Amendment Act (Veterinary Professional Corporations), 2006.

EXPLANATORY NOTE

The Bill amends the Business Corporations Act to extend the power of the Lieutenant Governor in Council to make regulations exempting classes of health profession corporations from certain provisions of the Act and the regulations made under it so that the power covers professional corporations of veterinarians.