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 […]
In November, the House of Assembly of Newfoundland and Labrador passed Bill 24, which set out amendments to the province’s Corporations Act (the “Act”). The amendments, which come into force 1 April 2022, are notable and require attention as they will impose new obligations upon most corporations incorporated in the province. In summary, the amendments: […]
An oppression remedy is a statutory remedy that courts can apply when the conduct of a corporation or its directors is found to be prejudicial or harmful to the interests of a specific stakeholder of the corporation (i.e., shareholders, officers, directors, creditors, etc.). In rectifying the oppression, courts will consider the reasonable expectations of the […]