Significant amendments have been made to the Partnership and Business Names Act (the Act), RSNWT 1988, c P-1.The amendments to the Act effect partnerships, limited partnerships, and extra-territorial partnerships. Previously, there were no renewal requirements for partnerships, limited partnerships, and extra-territorial partnerships; the amendments now provide that all partnerships and businesses must be renewed by June 29, 2019. Stricter sanctions now apply for failure to comply with the Act, including additional offence provisions and increased fines.

Registration of a Firm, Partnership or Business Name

• All partnerships and businesses must now be renewed; this includes partnerships and businesses previously registered under the Act.
• Renewal must be done by June 29, 2019.   
• Partnership and business names must be compliant with the Act.
• To register or renew, an originally-signed application form must be submitted to the Registrar
• Registrations made prior to June 29, 2018, expire on the later of four years from the date of registration or renewal, or as of June 29, 2019. For example, if you registered a business name on June 1, 2015, your registration will expire on June 1, 2019 and you will need to renew it prior to June 29, 2019. 
• Any changes to a partnership, including dissolution, cessation of business in the NWT, or a change in name, require an application to be sent to the Registrar within 15 days following the change in order to amend the registration.
• A partner remains a partner unless registration is amended.

Fines + Penalties for Non-Compliance

Failure to file or making a false or misleading statement in an application is an offence subject to penalties:

• Non-Corporate Entity
  • Maximum fine of $2000.
• Corporation: maximum fine of $5000
  • Corporate directors and officers may be liable to a fine not exceeding $2000.

Registration of Limited Partnerships Formed in NWT, Extra-Territorial Limited Partnerships, Limited Liability Partnerships Formed in the NWT + Extra-Territorial Limited Liability Partnerships

The amendments provide stricter sanctions for failure to comply with the Act for Limited Partnerships.

Fines + Penalties for Non-Compliance

• Failure to register
  • Maximum fine of $10,000.
• Failure to file or making a false or misleading statement in an application is an offence subject to penalties:
  • Non-corporate entity:
    • Maximum fine of $5000.
  • Corporation
    • Maximum fine of $10,000.
    • Corporate directors and officers may be liable to a fine not exceeding $5,000

Field Law Can Help

Field Law can assist you with meeting the deadlines for compliance, submitting application forms, and with any questions or concerns you may have regarding the registration of your business or partnership.

Please contact Ayanna Ferdinand Catlyn (afcatlyn@fieldlaw.com) for assistance.