The Canada Business Corporations Act
(CBCA) has undergone in June of this year changes
clarifying the scope of the duty of directors and senior officers
to act in the best interest of the corporation. Some other changes
to the CBCA will enter into force on January 1, 2020, and will
affect the disclosure contained in annual meeting proxy circulars
of venture issuers governed by it.
Other changes to the CBCA dealing with (i) compulsory separate
voting for candidates to directorship and (ii) "majority
voting" are expected to come into force later in 2020. The
following is a summary of these changes.
Changes in Force or Soon to be in Force
Duty to Act in the Best Interests of the Corporation
