Frequently Asked Questions

What is a Central Securities Register and how do I obtain one?

A company/corporation must maintain a Central Securities Register (CSR) in accordance with the requirements in the Business Corporations Act. This document lists the shareholders of the corporation. You can obtain this document from either the lawyer or law firm who incorporated your company, or from the individual who is responsible for maintaining this document within your corporation. This document must include: all shares issued by a company, the name and last known address of each shareholder, and the number, class and any series of any shares owned by that shareholder. This document must be certified by a lawyer or notary before being submitted to the College.

For further information on the Central Securities Register, refer to the Pharmacy Licensure Guide.

I am purchasing/selling a pharmacy. What should I do?

The process of purchasing or selling a pharmacy is considered a Change of Direct Owner. This application is submitted to the College by the new Direct Owner of the pharmacy (i.e., the purchaser). However, the current Direct Owner of the pharmacy (i.e., the seller), must confirm the change by signing the application form. The new Direct Owner must submit a Change of Direct Owner application and all applicable requirements to the College at least 30 days before the effective date of change. If updated corporate documents are unavailable 30 days prior to the change, the Deferred Submission of a Required Document(s) for Change Application form must be submitted with the Change of Direct Owner application.

For further information on a Change of Direct Owner application, refer to the College website or the Pharmacy Licensure Guide.

What are the differences between a Change of Direct Owner and a Change of Corporation Name?

A Change of Direct Owner occurs when a pharmacy is sold from one entity to another. This also includes amalgamation. A Change of Corporation Name occurs when the corporation that currently owns the pharmacy changes in name only. One way to distinguish the difference is that a Change of Direct Owner will result in a new incorporation number, whereas a Change of Corporation Name will result in the incorporation number staying the same.

For further information, refer to the Pharmacy Licensure Guide.

What is the difference between a Direct Owner (DO) and an Indirect Owner (IO)?

The name of the Direct Owner of the pharmacy is printed on the current pharmacy licence. In most cases, the Direct Owner of the pharmacy is a corporation. Indirect Owners of the pharmacy are the directors, officers, and shareholders of this Direct Owner corporation and/or any other corporations related to the ownership structure of this pharmacy. Indirect Owners can be individuals (pharmacists, pharmacy technicians, or non-registrants), or corporations.

Directors: individuals identified on the Notice of Articles or BC Company Summary, issued by BC Registry Services. The majority of directors of the Direct Owner must be pharmacists. If the directors of a corporation change, you must submit a Change of Indirect Owner application, and the Notice of Change of Directors issued by BC Registry Services.
Officers: individuals identified on the BC Company Summary or Annual Report issued by BC Registry Services. If the officers of a corporation change, you must submit a Change of Indirect Owner application, and the updated BC Company Summary issued by BC Registry Services.
Shareholders: any individual or corporation that holds shares of the Direct Owner or Indirect Owner who is identified on the Central Securities Register of a non-publicly traded corporation. If the shareholders of a corporation change, you must submit a Change of Indirect Owner application and an updated certified copy of the Central Securities Register.

Note: If a shareholder is a non-publicly traded corporation, the directors, officers, and shareholders of this corporation are also considered Indirect Owners.

For further information on pharmacy ownership, refer to the College website or the Pharmacy Licensure Guide.

What happens if my corporation undergoes an amalgamation?

Amalgamating is the process where two or more corporations merge and carry on as one corporation, the "amalgamated corporation". The “amalgamated corporation” is a new legal entity, regardless of whether the “amalgamated corporation” has the same name or people as any of the “amalgamating corporations”. If the Direct Owner of a pharmacy amalgamates, you must submit a Change of Direct Owner application. An amalgamation is considered a Change of Direct Owner because the “amalgamated corporation” is a new legal entity which has a new BC Incorporation Number.

For further information regarding a Change of Direct Owner application, refer to the College website or the Pharmacy Licensure Guide.

My pharmacy is currently undergoing renewal, but I am selling the pharmacy. Should I complete the renewal process or submit a change application? Are the renewal fees refundable?

To maintain a pharmacy licence, either the new Direct Owner must complete the Change of Direct Owner application and its requirements before the existing pharmacy licence expires, OR the current Direct Owner must renew the pharmacy licence before it expires. If the Change of Direct Owner application will not be completed before the pharmacy licence expires, the current Direct Owner should renew the pharmacy licence first. The new Direct Owner can submit the Change of Direct Owner application when the sale is confirmed. If the Change of Direct Owner application is not completed and the current Direct Owner did not renew the pharmacy licence before it expires, the pharmacy must remain closed. The new Direct Owner will then have to apply for a New Pharmacy Licence by following the New Pharmacy Licence process outlined in the Pharmacy Licensure Guide. All licensing fees are non-refundable.

Note: If the current Direct Owner will not be renewing the pharmacy licence, the new Direct Owner must inform the College of the Change of Direct Owner by submitting the Change of Direct Owner application before the pharmacy renewal deadline, i.e., 30 days before the licence expires. If all requirements for the pharmacy renewal application are not submitted before the deadline, and the College has not been informed of the Change of Direct Owner via an application, then the renewal is considered late and will be referred to the Application Committee for review and an administrative fee may be applied.

For further information regarding a Change of Direct Owner application, refer to the College website, or the Pharmacy Licensure Guide.

I only hold non-voting shares of the Direct Owner or corporation associated with the ownership of a pharmacy. Am I still considered an Indirect Owner and required to submit Proof of Eligibility?

Yes, all shareholders, regardless of the type or number of shares they hold, are considered Indirect Owners of the pharmacy and must submit Proof of Eligibility for all applicable applications.

For further information on Indirect Owners and pharmacy ownership, refer to the Pharmacy Licensure Guide.

I’m not a registered pharmacist in BC. Can I own a pharmacy?

Yes, non-pharmacists may have ownership of a pharmacy. However, the majority of directors of the Direct Owner must be pharmacists registered in BC. In order to meet the majority requirement, more than 50% of the directors must be pharmacists (regardless of who has the majority of shares within the corporation).

Note: All Direct Owners and Indirect Owners must also comply with the eligibility criteria outlined in the Pharmacy Operations and Drug Scheduling Act. One of the criteria to hold a pharmacy licence is that “a person authorized by an enactment to prescribe drugs must not be a Direct Owner or an Indirect Owner.”

For further information on pharmacy ownership, refer to the Pharmacy Licensure Guide.