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ARTICLE · 03 FEBRUARY 2021

2020 Canadian Corporate Law Update

Gowling WLG
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2020 has been a year of many changes, including changes in corporate law across Canada. In this article, we provide a summary of recent corporate developments in various provinces.

CanadaCorporate/Commercial Law
Tara Amiri-Khaledi
Tara Amiri-Khaledi
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2020 has been a year of many changes, including changes in corporate law across Canada. In this article, we provide a summary of recent corporate developments in various provinces.

British Columbia

British Columbia introduced a new type of corporation in 2020, called a "benefit company". A benefit company differs from a standard BC company in three ways:  (1) a company is a "benefit company" if its notice of articles contains a statement indicating that it is a benefit company; (2) a benefit company must include in its articles a provision that specifies the public benefits to be promoted by it and a commitment to conduct the benefit company's business in a responsible and sustainable manner and to promote the public benefits that are to be promoted by it; and (3) a benefit company is required to annually publish a benefit report.

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