Québec Announces In-force Dates For New Corporate Transparency Requirements

The Québec Government has announced that the transparency requirements set out in Bill 78, An Act mainly to improve the transparency of enterprises, will come into force on March 31, 2023. These requirements will apply to all entities operating an enterprise in Québec, without regard to their jurisdiction of formation.

Note: This post updates our previous post from January 24, 2023.

Background

Bill 78, which passed with the unanimous support of the National Assembly on June 3, 2021, introduces significant transparency disclosure requirements to Québec's Act respecting the legal publicity of enterprises ("Québec Legal Publicity Act").

While these changes follow the implementation of corporate transparency initiatives in the Canada Business Corporations Act ("CBCA") and in a number of other provinces (for further details, see our post: Beneficial Ownership Transparency in Canada: An Evolving Regulatory Landscape), Québec is the first Canadian jurisdiction to