Minute book requirements in Prince Edward Island (PEIBCA)
Prince Edward Island corporations keep their corporate records at the registered office under PEIBCA s. 22. The Act mirrors the federal CBCA closely, with similar required records and inspection rights.
| PEIBCA s. 22 | Required corporate records |
|---|---|
| PEIBCA s. 24 | Right of access |
| PEIBCA s. 49 | Share register |
| Records location | Registered office in Prince Edward Island |
| Inspection rights | Shareholders, directors, creditors during business hours |
| Penalties | Up to $5,000 individual / $25,000 corporate |
- Records under PEIBCA s. 22: articles, bylaws, minutes, resolutions, directors' register, share register, accounting records
- Kept at the registered office in Prince Edward Island
- Shareholders, directors, and creditors may inspect during business hours; extracts free of charge
- Records may be paper or electronic; reproduction on demand required
- PEIBCA largely mirrors the federal CBCA
What PEIBCA s. 22 requires
Section 22 of the Business Corporations Act (PEI) requires every PEI corporation to maintain articles and bylaws, minutes of meetings and resolutions, registers of directors and officers, the share register, and accounting records. The records are kept at the registered office in Prince Edward Island.
Access under PEIBCA s. 24
Section 24 gives shareholders, directors, and creditors the right to examine the corporation's records during usual business hours. They may take extracts free of charge and obtain copies on payment of a reasonable fee. The access regime tracks the federal CBCA's s. 21 closely.
Records format and retention
PEI permits corporate records to be kept in paper, electronic, or hybrid form. Where records are electronic, they must be capable of being reproduced in legible written form on demand. There is no specific PEIBCA retention schedule for most corporate records, though federal tax records under the Income Tax Act typically need to be retained for at least seven years.
What's distinctive about Prince Edward Island
PEI's corporate-records regime mirrors the federal CBCA closely, which simplifies compliance for closely-held corporations and holding companies. PEI has not yet added a separate beneficial-ownership register requirement at the corporate level (unlike BC's Transparency Register or Ontario's ISC register), though corporations with federal CBCA structures operating in PEI will still maintain the federal ISC register. The small size of the PEI Corporate Registry means filing turnaround times are fast and direct contact with registry staff is straightforward.
Octelligence keeps the corporate record up to date as the corporation evolves: articles and amendments, bylaws, registers of directors and shareholders, written resolutions, and share certificates, all in one structured place with a complete activity log.
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