New amendments to the Canada Business Corporations Act (Federal) (“CBCA”) are about to come into force on January 22, 2024, which will once again change requirements regarding transparency and public disclosure of corporate ownership in Canada. Amendments to ISC Disclosure Requirements The Federal Government will now seek automatic disclosure of information pertaining to an “Individual […]
It appears 2024 will include an unwelcome surprise for many business owners in Canada – public disclosure of their ownership interests in corporations. If you own federally-incorporated corporations, the agenda this fall should include a review to prepare for compliance. Canada Business Corporations Act Since 2017, Canada and the provinces, including Newfoundland and Labrador, have […]
Corporations incorporated under the Canada Business Corporations Act (the “CBCA”) are about to face a significant increase in the share ownership information that they are required to collect. Bill C-86, an implementation bill for the 2018 federal budget that includes the Federal government’s amendments to the CBCA, received Royal Assent on December 13, 2018. The […]
A few years ago, we canvassed the now outdated and antiquated financial assistance (or illicit loan) provisions that remain in the Newfoundland Corporations Act (the “Act”) and the problems they create for financial institutions seeking guarantees in financing transactions. This article seeks to examine in greater detail the solutions and work-arounds.