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ARTICLE · 31 MAY 2019

B.C. Benefit Corporation Update

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We previously reported on how British Columbia may become the first jurisdiction in Canada to permit benefit corporations. A private member's bill (Bill M 216) on benefit corporations was introduced in the 2018 Legislative Session

CanadaCorporate/Commercial Law
Sarah Fitzpatrick
Sarah Fitzpatrick
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We previously reported on how British Columbia may become the first jurisdiction in Canada to permit benefit corporations. A private member's bill (Bill M 216) on benefit corporations was introduced in the 2018 Legislative Session and passed second reading, which is rare for a private member's bill. Dr. Andrew Weaver, the MLA who introduced the bill, decided to do further consultation and the bill died when the Legislative Assembly was prorogued in January. In the current session, Dr. Weaver introduced Bill M 209, Business Corporations Amendment Act (No. 2), 2019, which contains some amendments to the previous bill. Bill M 209 received royal assent on May 16, and the majority of its provisions will come into force by regulation of the Lieutenant Governor in Council.

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