Company Announced to Modernize the Registry of Joint Stock Companies

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Nova Scotia businesses can expect a new and improved Registry of Joint Stock Companies IT system by fall 2019.

After a competitive selection process, Enterprise Registry Solutions Ltd. of Dublin, Ireland, has been identified as the selected vendor. It will begin work to modernize the new IT system immediately.

Since 2002, the company has been developing and implementing business and corporate registry solutions around the world. It is a wholly owned subsidiary of ISC, a leading Canadian provider of registry and information management services for public data and records.

“We’re looking forward to the expertise this company can bring to the project,” said Service Nova Scotia Minister Geoff MacLellan. “A new, modern system will better meet the needs of Nova Scotia’s business community and reduce red tape allowing businesses to dedicate their time and finances on what’s most important, which is growing their businesses, creating opportunities for Nova Scotians and serving their customers.”

The Office of Regulatory Affairs and Service Effectiveness has estimated that modernizing the Registry of Joint Stock Companies system will save businesses about $7 million annually. It contributes to government’s red tape reduction initiative.

Efficiencies include:
— most transactions will be able to be submitted online 24/7; no need to mail in or deliver in person
— smart forms and online help will let the user know if anything is missing before they submit, thus avoiding further back-and-forth delays
— users will be able to track the progress of their transaction, rather than needing to call to find out when it will be completed
— user data entry will enable staff to focus on adding value and adjudication of complex filings, rather than answering status calls or entering data, greatly reducing wait times.

This is one of many initiatives Service Nova Scotia is leading to better serve the business community and Nova Scotians.

The contract is valued at about $7.1 million, over a 10-year period. Representatives from the business and legal communities have already been involved in this project, and will be invited to provide further feedback along the way.

Law requires all businesses operating in Nova Scotia to register with the Registry of Joint Stock Companies, with a few exceptions. The current IT system is more than 20 years old.
In April 2016, government announced that a government-led approach would be undertaken to modernize the land, vital statistics, joint stock companies and motor vehicle registries and transform client service at Service Nova Scotia. It is estimated that this transformation will take six to eight years to complete.

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Source: Release