It’s Official! BC Releases Long Awaited BC Franchises Act Regulation!
Further to our previous posts, available here and here, the much anticipated BC Franchises Regulation (the “Regulation”) was released today, and it was proclaimed that the Franchises Act, SBC 2015, c 35 will come into force effective February 1, 2017. The Regulation and order of the Lieutenant Governor in Council can be accessed here. BC is now the sixth province to enact uniform franchise legislation.
The Regulations specify the information to be included in a disclosure document, including information related to: risk warnings, financial statements, and other prescribed information related to the franchisor and the franchise. By regulating a previously unregulated area of law, this new legislation will change the way franchisors do business.
To learn more about your obligations under BC’s new franchise legislation and how to ensure your business is complying, stay tuned for future posts which will examine the new law in greater detail, and register for our upcoming seminar on the topic scheduled for October 18th, 2016, which will be available live in Vancouver and via webinar for your convenience.
To confirm your attendance to this seminar please register here.