Continuance / Discontinuance

Learn how to continue/discontinue an entity in Athennian!

Continuing an entity into another jurisdiction can be a complicated process, which is why we've created this help article to walk you through the process of completing this type of transaction in Athennian.

Continuance

1. Navigate to the profile of the entity you would like to continue into another jurisdiction;

2. Navigate to the Tasks section and select + New to create a new task;

3. Enter the name of the task in the Memo Description field;

4. In the Type field, select Continuance from the dropdown list - you will notice a 2. Continuance tab appear in the window;

5. Navigate to the 2. Continuance tab;

6. In the 2. Continuance tab, the From Jurisdiction fields will already be populated - enter the jurisdiction you would like to continue the entity into in the To Jurisdiction fields;

7. Enter the effective date of the continuance in the Effective Date field;

8. Where applicable, add the Resolution Date, the New Name of the entity and the Name Reservation information if the entity will be changing names;

9. Navigate to the 3. Supporting Documents tab and select + Supporting documents to add the applicable supporting documents to the task - Note: discontinuance documents may also be generated in this step;

10. Check off the desired templates and select Add to add them to the task;

11. Click Create to create the task, and then select Generate Documents to generate the supporting documents;

12. Click View Documents Now - this will redirect you to the Documents section of the entity where you will be able to view, modify and send out the documents for signature/filing;

13. Once the continuance has been filed with the appropriate government authorities and all required signatures have been obtained, navigate back to the Tasks section, and click on the continuance task you've just created;

14. In the top righthand corner, click on the status of the task and select Completed from the dropdown list;

15. Once you click Completed, a new window will appear prompting you to confirm that you would like to change the home jurisdiction to the new jurisdiction effective as at the Effective Date you entered in the 2. Continuance tab;

16. In this same window, check off whether or not you would like Athennian to Cancel and reissue certificates, Update incorporation date to continuance date, and Update entity creation type to "Continuance/Re-domiciled";

17. Make the applicable selections, and then select Confirm;

18. Save and Close the task;

19. Navigate to the Governance > History section of the entity - given that this is where Athennian records all fundamental changes to an entity, this is where you will find the Continuation record along with its effective date (see below example);

20. Navigate to the General > Entity Details section of the entity - you will notice the new jurisdiction as well as the Creation Type set to Continued/Re-domiciled;

21. Navigate to the Securities > Shares section of the entity - you will notice a new pending Continuance transaction as well as cancelled and re-issued share certificates resulting from the continuance - switch the Continuance share transaction to confirmed.

Photo 1: Record of Continuance in Governance > History