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.