C-26, r. 171.1 - Regulation respecting the practice of the profession of respiratory therapist in a partnership or joint-stock company

Section 4 Disposition versions

2012-12-27

4. A respiratory therapist may practise within a partnership or a joint-stock company that holds itself out exclusively as a partnership or joint-stock company of respiratory therapists if

(1)  more than 50% of the voting rights attached to the shares of the partnership or joint-stock company are held

(a)  by at least 1 respiratory therapist;

(b)  by a legal person, trust or any other enterprise whose voting rights attached to the shares or other rights are held entirely by at least 1 respiratory therapist; or

(c)  in any combination by a person, trust or enterprise referred to in subparagraphs a and b;

(2)  no manufacturer, wholesaler, vendor or representative of products associated with the practice of respiratory therapy, nor any majority shareholder of them, holds shares of the partnership or joint-stock company;

(3)  a majority of the directors of the board of directors or, where applicable, the partners or the directors appointed by the partners are respiratory therapists who constitute the majority of the quorum of the board of directors or internal management board, as the case may be; and

(4)  the chair of the board of directors of the joint-stock company or the person who performs similar duties within the limited liability partnership is a respiratory therapist who is a voting shareholder or a partner.

A respiratory therapist must ensure that the conditions set out in the first paragraph appear in the articles of constitution of the joint-stock company or are stipulated in the contract constituting the limited liability partnership and that it is also provided that the partnership or joint-stock company is constituted for the purpose of carrying on professional activities.

O.C. 1125-2012, s. 4.