Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 09 DECEMBER 2021

Required Disclosure Of Significant Control Under The OBCA

WeirFoulds LLP
Explore more from WeirFoulds LLP

On November 4, 2021, the Ontario government introduced Bill 43, the Build Ontario Act (Budget Measures), 2021 ("Bill 43"), which includes amendments to the Business Corporations Act (Ontario) (the "OBCA").

CanadaCorporate/Commercial Law
Dana Kriszenfeld
Dana Kriszenfeld
Emma Brown, Student-at-Law
Emma Brown, Student-at-Law
Author LinkedIn connections

On November 4, 2021, the Ontario government introduced Bill 43, the Build Ontario Act (Budget Measures), 2021 ("Bill 43"), which includes amendments to the Business Corporations Act  (Ontario) (the "OBCA"). The amendments aim at improving corporate transparency and combatting financial crime.

Included in these amendments is a requirement for certain corporations incorporated under the OBCA ("Ontario Corporations") to prepare and maintain a register of individuals with "significant control".

Both the Canada Business Corporations Act  and the British Columbia Business Corporations Act  already include similar requirements. However, Ontario Corporations have been free of such requirements to date. Presuming these requirements come into force, this will create new record keeping, filing and disclosure requirements for certain Ontario Corporations.

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.

Register for freeORLog in

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.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

October 2026 Amendments To Chambers Practice In British Columbia: What To Know

The amendments were developed with the input of stakeholders, including members of the judiciary, the legal profession, government ministries and the public, in response to ongoing concerns regarding chambers delays, scheduling inefficiencies, inaccurate time estimates, and matters that are set down for hearing but ultimately do not proceed as scheduled
CanadaCorporate/Commercial Law
Singleton Urquhart Reynolds Vogel LLP
Singleton Urquhart Reynolds Vogel LLP
Article

Shareholders' Agreements: The Decisions Behind The Document

Putting a unanimous shareholders' agreement in place is an exercise in good governance. It gives a group of owners an agreed framework for running the corporation, sharing its profits and dealing with the departure of a shareholder, and it settles those questions at a point when everyone is still working well together. Every agreement is different, because the answers depend on who the shareholders are and what each of them wants from the business.
CanadaCorporate/Commercial Law
Fillmore Riley
Fillmore Riley
Article

The Coldcard Exploit: Why Victims May Have Two Routes To Recovery

A five-year-old firmware defect in Coldcard hardware wallets has enabled attackers to systematically drain an estimated $116 million in Bitcoin from over 5,200 victims since July 2026. This unprecedented exploit raises critical questions about manufacturer liability and creates two distinct legal pathways for recovery: blockchain tracing against the perpetrators and potential litigation against Canadian manufacturer Coinkite for product defects that undermined the fundamental security promise of devices mar
CanadaLitigation, Mediation & Arbitration
WeirFoulds LLP
WeirFoulds LLP
Article

Here’s The Drill: Introducing The New CCDC 32 – 2026 Progressive Design-Build Contract

CCDC 32 introduces a progressive design-build framework that allows owners and design-builders to collaboratively develop project scope, budget, and schedule before committing to a final price. Through a two-phase structure with project gates and off-ramp provisions, this standardized contract addresses complex construction projects where requirements cannot be fully defined at the outset. How does this collaborative approach balance flexibility with cost certainty while reshaping traditional roles in const
CanadaReal Estate and Construction
WeirFoulds LLP
WeirFoulds LLP
Article

Who Pays After The Hack? Emerging Paths For Cyber Recovery

Recent court decisions reveal a developing area of cyber insurance subrogation where insurers can potentially recover losses from vendors, financial institutions, and service providers who failed to meet specific cybersecurity obligations. These cases demonstrate that a cybercriminal's involvement does not automatically shield third parties from liability when they breach contractual duties or ignore red flags that contributed to the loss.
United StatesInsurance
WeirFoulds LLP
WeirFoulds LLP