Change of Indirect Owner

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Change of Indirect Owner

Indirect owners for a non-publicly traded corporation include the directors, officers, and shareholders. If a shareholder is a non-publicly traded corporation incorporated in BC, its directors, officers and shareholders will also be considered indirect owners. See the Corporation as an Owner section for more information.

Indirect owners for a publicly traded corporation include the directors and officers.

A Change of Indirect Owner must be reported to the College.

A change of indirect owner may involve the addition of a new indirect owner, or the removal of an existing one. A new indirect owner must  meet the eligibility criteria in order for the direct owner to hold the pharmacy licence.

  1. Apply for a Change of Indirect Owner
    An authorized representative of the direct owner of the pharmacy must submit the change application electronically through the ownership portal on eServices no later than 7 days before the effective date of change. Refer to this section in the Pharmacy Licensure Guide for instructions to submit this application on eServices.

    You will also need to provide the following document(s) online based on the type of change:

    • Change of Director: Notice of Change of Directors filed with the BC Registry Services*
    • Change of Officer: Changing Indirect Owner - Declaration Form
    • Change of Shareholder: Updated certified true copy of the Central Securities Register*

      • For each new shareholder that is a B.C. incorporated, non-publicly traded corporation (i.e. the “parent company”), you will also have to submit:

        1. The most current copy (issued within the last year) of the BC Company Summary;
        2. A certified true copy of the Central Securities Register;
        3. The legal name and email contact for each director, officer and shareholder of this parent company; and
        4. If a shareholder of any parent company is a B.C. incorporated, non-publicly traded corporation, also submit #1, #2 and #3 for that shareholder until there is no more shareholders that are B.C. incorporated, non-publicly traded corporations.
           

    *Complete and submit the "Deferred Submission of a Required Document(s) for Change Application” declaration form if you are not able to provide the document at the time of notification.

    Allow up to 7 days for processing.

    The new indirect owner(s) will then receive an email from the College to complete his/her Proof of Eligibility online.

  2. Submit Proof of Eligibility (Adding a New Indirect Owner Only)

    The new indirect owner will receive an email to complete his/her Proof of Eligibility through his/her eServices account. This should be completed as soon as possible.

    For any indirect owners not previously known to the College, they will also receive a separate email with their eServices login information.

    Criminal Record History (CRH) is required if one has not been done with the College in the previous 5 years.  Please do not complete a CRH before receiving the email from the College to complete your Proof of Eligibility.

    The CRH must be submitted by the new indirect owner(s) no later than 7 days before the effective date of change.

    It will take up to 7 days to process a Criminal Record History result.

The authorized representative who submitted the application online will receive a confirmation letter by email upon completion of the change application.  The College will also notify Health Insurance BC (HIBC) of the Ministry of Health of this change.  No changes to the pharmacy licence will be made for this type of change.

Learn more about how to update your ownership information in eServices in this video:

Refer to the Pharmacy Licensure Guide for more information.

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