Corporate Update
Nov 2024 Charity & NFP Law Update
Published on November 28, 2024
Updates from the Ministry of Public and Business Service Delivery and ProcurementThe Ministry of Public and Business Service Delivery and Procurement (the “Ministry”) announced updates to the Ontario Business Registry (OBR) service delivery framework, in an email sent to OBR users on November 22, 2024. The notice is in relation to expanding service delivery options and the requirements of a company key to access the OBR system. The notice indicates that as of July 2024, there are over 2,000 intermediary organizations who utilize the OBR Partner Portal to submit registry filings on behalf of entities. These are organizations that have authority to act, as agent or otherwise, on behalf of their service clients in conducting transactions through the OBR, such as law firms, lawyers, paralegals, accountants, small business consultants, financial institutions, search houses. In addition, the Ministry has licensed two service providers to have authorized access to the OBR and conduct business registry services on behalf of their service clients. In this regard, there are two changes coming as of February 1, 2025. First, the Ministry will increase the number of service providers in order to increase customer choice for business registry services. Second, all entities registered in the OBR must use a company key to conduct transactions, regardless of whether filing directly through the OBR self-serve portal, an intermediary organization, or a service provider. A company key consists of a unique series of characters/digits. It is provided to the official email, registered office or other business address for sole proprietorships and corporations, including non-for-profit corporations. The notice indicates that entities that wish to use the services of intermediaries or service providers must be responsible for delegated authority by providing their company key directly to them. In this regard, if the intermediary or service provider has received any entity’s company key, they do not need to request a new one. As well, if a service provider has been used after October 19, 2021 to register/incorporate a new entity, then the delegated authority will remain in place until it is revoked by the entity. The Ministry encourages entities to obtain their company key. The Ministry automatically distributes company keys to the official email address when a new business is registered or incorporated in the OBR. They can also be requested online. The notice provides a link to the Ministry’s Company Key Guide on how to obtain a company key, as well as the company key notice on the Ontario government’s website. |