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
- Navigate to the profile of the entity you wish to continue into another Jurisdiction
- Navigate to the Tasks section of the entity and click + New to create a new task
1. Details tab
- In the Memo description, title the task
- In the task Type field, select Continuance from the dropdown list
- Set a Due Date (mandatory), select the Assignee, set a Priority and add any Details or Tags if applicable
- Click Create to create the task
2. Continuance tab
- Select the From Jurisdiction: Country and Jurisdiction: Region (this is prepopulated) and the To Jurisdiction: Country and Jurisdiction: Region in the dropdown lists
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Enter the Effective Date (mandatory), Resolution Date if needed
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If the entity has a new name, enter it in the New Company Name field and fill in the other required fields for the name change
3. Supporting Documents tab
- Select + Supporting Documents
- Check off the templates you would like to use to generate your supporting documents for the revival, and then click Add
- Click Generate documents. A blue notification will appear indicating that the documents are being generated and you'll be notified when completed.
- Once the documents are generated, a green notification will appear indicating they're successfully generated. You can navigate to the next tab to view the generated documents.
4. Generated Documents tab
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Click on the generated documents to review them
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Select Download as Zip if you wish to download them to your desktop
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Select Send to Docusign if you wish to send them for e-signature
Complete the Task
- Once the documents are completed, click the task's status in the top right corner and select Completed from the dropdown list. You will be prompted to confirm that you would like to change the home jurisdiction.
- If applicable, check the boxes which apply:
- Cancel and Reissue Certificates
- Combine multiple certificates within one holding into a single certificate
- Update incorporation date to continuance date
- Update entity creation type to "Continuance/Re-domiciled"
- Then, click Confirm to proceed with the continuance. The entity status will be updated to Confirmed as of the effective date. A blue notification will appear, indicating that the jurisdiction has been changed.
- Finally, Save your changes and Close the task.
Navigate to the following sections after completing the continuance:
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Governance > History - 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)
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General > Details - you will notice the new jurisdiction as well as the Creation Type set to Continued/Re-domiciled
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Securities > Ownership - 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.
Video Instructions: