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Unlimited Liability Companies

Unlimited Liability Companies Effective Fall 2007, amendments passed earlier this year to the Business Corporations Act to allow for Unlimited Liability Companies, along with amendments to the Business Corporations Regulation to set out prescribed requirements referred to in the Business Corporations Act, will be brought into force.These changes will provide the statutory framework for the creation of Unlimited Liability Companies. For information on Unlimited Liability Companies refer to Bill 14- 2007, Finance Statutes Amendment Act, 2007. In particular, refer to section 13,adding Part 2.1-Unlimited Liability Companies and section 33 listing the fees for Unlimited Liability Companies. Additional information will follow closer to the implementation date.