Thinking about closing your business or changing ownership? There are steps an AMVIC-licensed business must follow to ensure a smooth process in relation to Section 134 of the Consumer Protection Act.
You must notify AMVIC, in writing, within 15 days, if any of the following applies:
- If your corporation has a change in officers or directors.
- If your partnership has a change in the partners.
- If your business office changes addresses.
- If your business or the person issued the licence (the director) ceases to carry on the activities for which the business is licensed for. This can include if the business is closing down, has completed a legal entity name change, has been sold (trade name, assets only) or has been taken over but is still operating.
If your business is ceasing activity (closing), you must also return your licence to AMVIC. This applies to all types of automotive businesses regardless of licence class.
If you are submitting a closure notice to AMVIC, include information related to:
- Why the business is closing and future contact information.
- If it is a complete closure of the business or if the ownership is totally changing, such as a takeover.
- Who AMVIC should contact if consumers have any questions or concerns.
- If there is a plan as to who will do repairs/installs that were promised before the business closed. If so, include details.
- Description of who will be dealing with warranty issues.
- Information on how customers were notified of the closure or takeover.
- If your business is licensed for sales, lease or consignment you must also ensure all levy payments are up-to-date.
Remember: once you cease to be AMVIC-licensed you can no longer engage in automotive business.
As a best practice, AMVIC recommends businesses notify existing customers that you are closing and provide new owner contact information if possible. Visit amvic.org to download the business licence cancellation request form if you decide to close your business.