Canada Business Corporations Act
New B.C. Business Corporations Act transparency register requirements: A primer
Beginning on a date to be announced, privately-held B.C. Business Corporations Act (“BCA”) companies will be required to maintain a “transparency register” of “significant individuals”, being individuals who:
Canada is first jurisdiction worldwide to require diversity disclosure beyond gender; Diversity disclosure rules will apply to federally incorporated public companies effective Jan. 1, 2020
Effective January 1, 2020, corporations governed by the Canada Business Corporations Act (CBCA) with publicly traded securities will be required to provide shareholders with information on the corporation’s policies and practices related to diversity on the board of directors and within senior management, including the number and percentage of members of the board and of senior management who are women, Aboriginal persons, members of visible minorities and persons with disabilities.
New ownership transparency requirements for federal corporations
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).
Behind the corporate veil: New ownership record rules in Canada
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.
Supreme Court clarifies test for personal liability of directors for oppressive conduct
The general principles articulated by the Supreme Court may help guide directors and counsel in considering whether corporate conduct could lead to personal liability in future cases.
CBCA amendments: Corporate governance changes
On September 28, 2016, the Canadian federal government introduced Bill C–25: An Act to amend the Canada Business Corporations Act et al. The proposed amendments are the culmination of the first substantive review of the Canada Business Corporations Act in 15 years and are the result of a consultation process initiated in 2013. The stated objectives of the proposed amendments are to, among other things…
Ontario Ministry’s expert report recommends big changes to province’s corporate laws
On July 9, 2015, an expert panel convened by the Ontario Ministry of Government and Consumer Services (MGCS) released their final report (the Expert Report) containing many broad recommendations on how to modernize Ontario’s increasingly outdated business legislation. The Expert Report dealt with laws relating to corporations, partnerships, secured lending and other commercial activities. Taken […]
The future of insolvency
Industry Canada sought public input on the state and future of Canada’s insolvency legislation through early 2014. Interested parties can review the issues in the agency’s discussion paper on the statutory review of the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act.
Federal government seeks input on Canada Business Corporations Act
The Canada Business Corporations Act (CBCA) last underwent significant change in 2001, and Industry Canada believes conditions have changed enough since then that it’s time for another review. The department is accepting input until March 11, 2014, on the following topics…
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