2025-09-12
To be or not to be — a director. That is the question.
Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.
Filing Bankruptcy If You Are A Director Of An Incorporated Company
2008-10-17
Section 124(2)(c) of the BCBusiness Corporations Act says that you can't be a director of a company if you're in bankruptcy. So, if you proceed with a bankruptcy, you would need to resign as a director of the company. I believe that would involve doing a written resignation which would be kept in the company's minute book and you probably have to update the company's information at Corporate Registry Corporate Registry, but you are best to ask a lawyer or notary what needs to be done. If you are the only director of the company, you may need to get someone else to take on that role and have them properly appointed by the shareholders. Anyway, check with a lawyer or notary - they can give you the right advice. Judy A. Scott Meyers Norris Penny Limited Vancouver - Port Moody - Abbotsford
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