Have you heard about the amendments to the Canada Business
Corporations Act (CBCA) that came into force on June 13, 2019
and the proposed amendments to the CBCA that are currently under
consideration? This article provides an overview of the amendments
so you can ensure you are in compliance and contemplate what
steps to take for potential compliance in the future.
Significant Control Register - New Record Keeping
As of June 13, 2019, private corporations incorporated under the
CBCA are required to create and maintain a register of individuals
who have "significant control" over the business (the
"Significant Control Register"). Reporting issuers,
public corporations and corporations listed on a stock exchange are
exempt from this requirement.
