On April 1, 2018, the College’s amendments to the Pharmacy Operations and Drug Scheduling Act Bylaws came into effect. The new pharmacy licensure process involved identifying all pharmacy owners and determining their suitability for pharmacy ownership which allows the College to hold pharmacy owners accountable for providing safe and effective care by ensuring their pharmacies are compliant with legislative requirements for pharmacies in BC.
The first pharmacies to complete pharmacy licence renewals under the new requirements were those whose licences expired on June 30, 2018.
They marked the beginning of the year-long transition period, which ended with pharmacies whose licence expired in May 2019.
— BC Pharmacists (@BCPharmacists) September 13, 2019
Pharmacies whose licence expired in June 2019 were the first to complete the post-transition period renewal process.
The transition period enabled the College to collect initial information from previously unidentified pharmacy owners, in order to hold them accountable for providing safe and effective care by ensuring their pharmacies are compliant.
The College recognizes that a significant amount of work was required from pharmacies collecting this important information as part of the transition period and appreciates their patience and understanding during the implementation of the new requirements.
What is different about completing a pharmacy licence renewal in the post-transition period?
- Direct Owners that are corporations will not need to submit a certified copy of the Central Securities Register, unless changes have been made;
- The name, role and email contact of each indirect owner does not need to be entered unless changes have been made.
- Individuals required to submit Proof of Eligibility (i.e. current direct/indirect owners and managers) will be notified when the renewal notice is sent (i.e. 75 days before the pharmacy licence expiry).
- Direct and Indirect owners and managers that submitted a Criminal Record History (CRH) at their last renewal, are no longer required to submit one this year. Submission of a CRH is only required once every 5 years.
Trusts & Trustees
Since the introduction of the new ownership requirements under the Pharmacy Operations and Drug Scheduling Act (PODSA), the College has been collecting information about Direct Owners and
Indirect Owners (directors, officers and shareholders) as part of the annual pharmacy license renewal process.
Information about trustees had not been collected, as trustees were not initially considered to be indirect owners and, as such, were not subject to the ownership requirements under PODSA.
Beginning with pharmacy licence renewals for pharmacies with a June 30, 2019 expiry date, all pharmacies identified as having one or more trusts or trustees holding shares of the direct owner or its parent company are required to provide information for each trustee, as they are now considered indirect owners.
What is a trust?
A trust is a relationship where one or more persons, known as trustees, hold property in trust for the benefit of certain persons, known as beneficiaries. In the case of corporate shares, the shares of the corporation would be issued to the trustee and the trustee would hold the shares subject to the terms of the trust.