Federal Bill Would Change How Corporate Directors Are Elected

This article looks at Bill C-25, including how it changes elections for directors and its new diversity requirements.

The federal government has tabled a bill in the Senate that will make a number of important changes to the Canada Business Corporations Act (CBCA), the Canada Cooperatives Act, the Competition Act, and the Canada Not-for-profit Corporations Act. As Corporations Canada points out, Bill C-25 makes three important changes to how corporations are governed and regulated: it gives shareholders the ability to vote against directors, changes how documents for shareholder meetings are to be sent to and accessed by shareholders, and requires certain corporations to report the diversity of their directors and senior management.