B.C. gives go-ahead for virtual AGMs

The government of British Columbia has announced that corporations will be permitted to hold their annual general meetings (AGMs) or special meetings electronically during the ongoing Covid-19 emergency.

The government’s order will override requirements under various provincial statutes that prohibit electronic meetings, and it overrides companies’ own rules and by-laws.

“Each company, society and co-operative should consider which meeting method best suits its needs, such as Zoom, Skype or telephone conference calls, as long as each participant is able to communicate and vote, if needed,” the province said.

For online meetings, companies should consider providing a telephone option for people who don’t have access to a computer.

“In addition to electronic meetings, all corporations will be able to hold hybrid meetings, giving people the option to participate in person or electronically,” the government said.

Recently, the Supreme Court of B.C. ruled that a pair of companies, which are required to hold their AGMs by June, could have until the end of the year to host their annual meetings.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.