DocumentsStatutory Declaration on Amalgamation
Statutory Declaration on Amalgamation
A Statutory Declaration on Amalgamation is a legal document used to declare the merger or consolidation of two or more legal entities, like companies or associations, into a new single entity. It serves as an official statement formally confirming the details and legality of the amalgamation process.
A Statutory Declaration on Amalgamation:
- A sworn statement affirming the amalgamation of multiple entities into one.
- Provides legal recognition and documentation of the merger or consolidation.
- Ensures compliance with the Canada Business Corporations Act (CBCA) and other applicable laws and regulations governing amalgamations.
- May be required by government agencies, regulatory bodies, or stakeholders involved in the amalgamation process.
Statutory Declaration on Amalgamation
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What details or information does a Statutory Declaration on Amalgamation contain?
An amalgamation is a combination of two or more companies into a new entity. An amalgamation is different from a merger since neither existing company survives as a legal entity. Instead, a completely new entity is formed to hold the combined assets and liabilities of both companies.
A Statutory Declaration on Amalgamation typically includes the following details:
- Entities being amalgamated: Full names, addresses, and legal statuses of the entities involved in the amalgamation.
- Newly formed/amalgamated entity: Full name, address, and legal status of the newly formed entity resulting from the amalgamation.
- Purpose of amalgamation: A statement explaining the purpose and objectives of the amalgamation.
- Effective date: The date on which the amalgamation becomes legally effective.
- Declaration: A declaration by authorized representatives of the amalgamating entities, affirming the accuracy and legality of the amalgamation.
- Signatures: Signatures of the authorized representatives, along with their names, titles, and dates.
- Notarization: The signature and seal of a notary public or commissioner of oaths to certify the authenticity of the document.
When would I need a Statutory Declaration on Amalgamation?
You may need a Statutory Declaration on Amalgamation in various situations, such as:
- Formalizing the consolidation of companies, organizations, or associations.
- Transferring assets and liabilities between entities during an amalgamation.
- Providing evidence of the amalgamation for government authorities, regulatory bodies, or stakeholders.
Do I need to have my Statutory Declaration on Amalgamation notarized?
Yes! Notarization is a crucial step in ensuring the credibility and authenticity of your Statutory Declaration on Amalgamation. It adds legal weight and verification to the document.
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Frequently Asked Questions
Why is a Statutory Declaration on Amalgamation necessary?
The Statutory Declaration on Amalgamation is required to comply with the provisions of the Canada Business Corporations Act (CBCA) or the applicable provincial legislation governing corporate amalgamations.
It serves as a formal declaration by the directors or officers of the corporations involved, stating that the requirements for amalgamation have been met.
Can the Statutory Declaration on Amalgamation be amended or revoked after it has been filed?
Once the Statutory Declaration is filed with the appropriate corporate regulatory authority, it generally cannot be amended.
However, if there are significant changes or errors, it may be necessary to file additional documents to rectify the situation. It’s advised to consult with a legal professional for your unique situation.
Who can make a Statutory Declaration on Amalgamation?
The Statutory Declaration is typically made by the directors or officers of each corporation involved in the amalgamation.
They are responsible for ensuring that the declaration is accurate and complete.
Are there any additional documents required along with the Statutory Declaration on Amalgamation?
Depending on your specific circumstances, additional documents may be required to accompany the Statutory Declaration. These documents could include resolutions of the board of directors, articles of amalgamation, and financial statements.
Is NotaryPro’s online drafting & notary service legally recognized?
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It’s free to create your document, although we do offer online notarization for a small fee.
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