WCB Considerations When Buying a Business

Posted on

By Saskatchewan Lawyers’ Insurance Association Inc.

Saskatchewan Lawyers’ Insurance Association Inc. would like to remind all Law Society of Saskatchewan members of the importance of obtaining a Clearance Certificate pursuant to section 156 of The Workers’ Compensation Act, 2013, when acting for the purchaser of a business.  Liabilities to the Saskatchewan Workers’ Compensation Board remain the liability of the business and will become the responsibility of the new owner.  As an additional remedy, Saskatchewan Workers’ Compensation Board is entitled to add the amount of unpaid WCB premiums to the municipal tax roll.  Therefore, the municipal tax roll should also be reviewed by the lawyer acting for the purchaser of a business.

Please note that the WCB Clearance Certificates and other due diligence items are included in the Law Society of Saskatchewan’s “Asset Purchase and Sale Procedure” checklist located in the members’ section.  Clearance Certificates can be requested by contacting the Saskatchewan Workers’ Compensation Board by calling 1-800-667-7590 or emailing employerservices@wcbsask.com.

Tell us what you think

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s