Updates to the Professional Corporation Rules (Rules 154-159)
The Law Society’ Board of Directors (Benchers) have simplified the Rules around Professional Corporations (PCs) to reduce duplicate documentation and simplify their requirements and associated language. PCs are governed by both the Business Corporations Act and the Legal Profession Act. While the legislative provision in both Acts have not changed, the Law Society has moved to simplify the associated Rules by reducing requirements for duplicate documentation and repetition of the provisions of the Legal Profession Act, making the process of applying for a PC more straightforward.
The Law Society has also removed unnecessary information in the register of PCs and improved wording around how PCs are named. Language was adjusted to reflect the application process via the online lawyer portal.
Additionally, the Law Society has added language that includes an explicit statement to remind lawyers that they may not practise as a barrister or solicitor through a PC that is expired. This aligns with the Legal Profession Act and is worth clearly stating to remind lawyers to keep their permits up to date and not let them lapse.
For more information on PCs, contact Customer Service.