Coming Into Force
Bill 78, entitled An act mainly to improve the transparency
of enterprises (herein after "Transparency Act"),
was assented to on June 8, 2021, and will come into force on March
31, 2023.1 The coming into force of the Transparency Act
will result in important amendments to the Act respecting the
legal publicity of enterprises ("Publicity
Act").
The purpose of the Transparency Act is to optimize the
transparency of enterprises registered in Quebec, and in so doing
to enhance the protection of the public and prevent and fight tax
evasion, money laundering and corruption.2
Following the coming into force of the Transparency Act, new
obligations will become applicable to registrants under the
Publicity Act when they file their initial declaration or
registration declaration and when they deposit an updating
declaration (annual or current) in the Enterprise Registrar of
Quebec ("REQ"). The Publicity Act defines a
"registrant" as any person or
