If you are submitting corporate documents to Industry Canada then expect delays in processing. What might have been a 1 week turnaround for a continuance may now be 2 weeks. This delay is caused by a large number of last minute continuance filings. However, if you have not filed your continuance documents do not despair – see our note here.
Here is the notice on the Industry Canada website:
“Notice to Clients
Corporations Canada is currently processing a higher than usual volume of transactions. As a result, you may experience a delay in the processing of your request. We apologize for any inconvenience this may cause.”
Industry Canada has advised that as of October 25, 2014 there have been 9097 completed continuances. That is significant progress. After the CNCA had been in effect for 2 years ie. October 2013 there were only 1800 continuances. As at the end of May there were 4175 continuances. So over the last five months there have been about 5000 continuances.
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