Virtual meetings now a permanent option for B.C. corporations

LEGISLATIVE amendments will make permanent the ability for B.C. corporations to hold virtual meetings.

“B.C. companies, societies, credit unions and co-operative associations have faced the challenges of COVID-19 with creativity and innovation and for many, the opportunity to connect virtually has helped them stay connected during a difficult time,” said Selina Robinson, Minister of Finance, on Monday. “This permanent change will support improved engagement and help remove barriers to participation for people who are unable to attend in-person meetings.”

In April 2020, the Province temporarily removed legislative barriers to meeting electronically so organizations facing challenges could continue to govern and provide services through the pandemic. This temporary option has supported more efficient, flexible and accessible business practices for organizations.

The amendments to the Business Corporations Act, Cooperative Association Act, Credit Union Incorporation Act, Financial Institutions Act and Societies Act will permanently remove these legislative barriers and allow companies, societies, credit unions and co-operative associations the permanent ability to host fully or partially electronic meetings.

A corporate entity may determine the appropriate platform for an electronic meeting, provided all attendees can participate. If an online meeting platform is chosen, organizers should consider providing a telephone option for people without access to a computer.