Share Purchase
A share purchase occurs when the shares of the current corporation are sold and/or purchased by new and/or existing shareholders, or the shares are redistributed among existing shareholders. There is no change to the current corporation name during a share purchase.
If the current corporation name is also changing, please see the Ownership Change and Proprietor Name Change sections for additional information. You may apply for a Share Purchase and a Proprietor Name Change at the same time, however an Ownership Change will need to be a separate application.
Requirements are pursuant to The Pharmacy and Pharmacy Disciplines Act and the SCPP Regulatory Bylaws, which can be found in the Legislation section of our website.
Requirements
Please refer to the Pharmacy Share Purchase Guidelines for the share purchase application process and a full list of requirements to be submitted.
Please note: the College should be notified of the pharmacy share purchase at least five (5) to 10 business days prior to the date of the change.
When a share purchase is set to occur, the following will be required to be submitted prior to the date of the change:
- A Notice of Intent to Sell Shares with information on the proposed share purchase and any other changes occurring at the same time
- A Notice of Intent to Purchase Shares with information on the proposed share purchase and any other changes occurring at the same time
- An online permit amendment application form and the applicable fee
- Corporate documentation
- Current pharmacy permit
- An updated Data Sharing Agreement (to be sent to ISMP Canada)
Additional details on each of these requirements can be found in the Pharmacy Share Purchase Guidelines.
MSSA Requirements
The pharmacy must meet the requirements of legislation for the Medication Safety Self-Assessment (MSSA), including submission of the MSSA to ISMP Canada once every two (2) years.
If the MSSA for the pharmacy is overdue or will be due on or before the date of the change, the MSSA will need to be submitted prior to review and approval of the application by SCPP.
Please see Section 12 of Part I – Proprietary Pharmacies of the SCPP Regulatory Bylaws for more information.