BLG's client toolkit provides guidance for federal corporations governed by the Canada Business Corporations Act that will be impacted by this new legislation.
Canadian private federal corporations will be required — as of June 13, 2019 — to maintain a register of individuals considered to have significant control of a business in accordance with Bill C-86, the Budget Implementation Act, 2018, No. 2.
To assist you, BLG has developed a toolkit that organizations may use to prepare as non-compliance could result in significant penalties for both the organization and its board of directors:
- Bill C-86: What you need to know and how to prepare
- New Requirements Regarding Beneficial Ownership of Federal Corporations
- New Register of Individuals with Significant Control Checklist
- Register of Individuals with Significant Control (Sample)
- Resolution for Location of Register of Individuals with Significant Control (Sample)
Updates by jurisdiction
British Columbia
- B.C. Approves New Legislation that will Impact Private Companies: What You Need to Know (July 2019)
- New details about the planned transparency register for B.C. companies (April 2020)
Nova Scotia