Principal Issues: whether optometrists are allowed to have non-voting shares of professional corporations held by family members under the Ontario Business Corporations Act.
Position: No. Referral to Minister of Government Services for Ontario.
Reasons: The law
September 27, 2010
XXXXXXXXXX
Dear XXXXXXXXXX :
Thank you for your correspondence of August 6, 2010, concerning shareholders of health professional corporations under the Ontario Business Corporations Act.
You indicate that, under the above-mentioned legislation, dentist and physician corporations are allowed to have non-voting shares held by family members of their professionals. You suggest that optometrists should also be allowed to have their family members own non-voting shares of their health professional corporation under this provincial legislation.
As this matter is the responsibility of the Honourable Harinder S. Takhar, Minister of Government Services for Ontario, I am forwarding a copy of our correspondence to him for consideration.
I trust that this referral is helpful.
Yours sincerely,
Keith Ashfield
Minister of National Revenue
c.c.: The Honourable Harinder S. Takhar, M.P.P.
Minister of Government Services for Ontario
Room 4320, Whitney Block
99 Wellesley Street West
Toronto ON M7A 1W3
G. Moore
957-2141
2010-037802
August 24, 2010