Share on LinkedInShare on LinkedIn

ARTICLE · 15 MARCH 2019

Non-Public CBCA Corporations Must Begin Tracking Controlling Shareholders

The deadline for amending the register is 15 days after the corporation becomes aware of a need for an amendment.

CanadaCorporate/Commercial Law

Non-public corporations governed by the Canada Business Corporations Act (the CBCA) will soon have to establish a securities register detailing all individuals with significant control over the corporation. The new regulations under Bill C 86 Budget Implementation Act, 2018, No. 2 are expected to come into effect on June 13, 2019. CBCA corporations should take steps to ensure correct records and documentation are in place ahead of the regulations' anticipated effective date.

Meaning of significant control

The new share register requirements pertain to all individual shareholders, registered or beneficial, who have significant control, direct or indirect, over the corporation.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

About Norton Rose Fulbright Canada LLP

Norton Rose Fulbright is a global law firm. We provide the world's preeminent corporations and financial institutions with a full business law service. We have 3800 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see nortonrosefulbright.com/legal-notices.

Law around the world
nortonrosefulbright.com

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from