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Inside Internal Controls

News and discussion on implementing risk management

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individuals with significant control ISCs

New ownership transparency requirements for federal corporations

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As a result of recently passed amendments to the federal Canada Business Corporations Act (CBCA), corporations incorporated under that statute will soon be required to maintain a register of individuals with “significant control” over the corporation (an ISC Register).

 

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Behind the corporate veil: New ownership record rules in Canada

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On December 13, 2018, Bill C-86 received royal assent. This Bill contains a series of amendments to the CBCA pertaining to the tracking and recording of “individuals with significant control” (“ISCs”) over a corporation.

 

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