Current or correction update?

Following theincorporation of a company, changes often need to be made to the information in the Quebec Enterprise Register. For example, the resignation of a director requires an update to declare the director 's termination date and inform the public. Two types of updates can be published: the current update and the correction update.

Current update

The current update declaration is the most frequently used. The Legal Publicity of Companies Act requires that any change in the information appearing with the Registrar be declared within 30 days of the change. So, for example, following the resignation of a director, or a change of registered office address, the company should declare this fact within 30 days by way of a declaration of current update.

In general, third parties can assume that the information appearing with the registrar is correct. It is therefore in the company's interest to declare any changes promptly when they occur.

Correction update

Sometimes, the correct type of declaration to file is not the current update, but the correction update. This type of declaration is used when information has been erroneously reported to the Registrar and needs to be retroactively deleted.

This distinction may be essential in certain cases. For example, if a person has been erroneously declared as having acted as a director, if we proceed by current update we'll have to indicate an end-of-charge date. This means that the person has actually been a director and has ceased to be one. If you are producing a correction update instead, it is possible to ensure that there is no start date at all for this person.

It should be noted, however, that even with a correction update, it will still be possible to view the erroneous information that had been declared. In fact, the registrar includes an option for viewing the entire history of company information, including information that has been corrected.