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).
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.
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.
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.
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.
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.
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.
No. The Register of Directors only lists the directors and officers of a corporation. In order to validate the names of the shareholders (Indirect Owners) within the corporation, the College requires the certified Central Securities Register which lists the shareholders.
For further information on the Central Securities Register, refer to the Pharmacy Licensure Guide.
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.
A pharmacy that is changing location must meet all of the requirements outlined in the pre-opening inspection report prior to moving into the new pharmacy. The College recognizes that some equipment may still be in use up until the day of the move such as computer terminals, equipment, time-delay safe, fridge, etc. In this case, take photos of the equipment in the existing location and submit a photo showing where the equipment will be placed in the new pharmacy using placeholders.