Jun 10, 2019
Companies that are incorporated into the Canadian Business Corporations Act (CBCA) need to be cognizant of recent amendments to the CBCA that came into force on June 13, 2019. These amendments — the Register of individuals with significant control or ISC Register — were put into place to address transparency over who owns or controls a private corporation. In accordance with these changes, CBCA corporations that qualify must create and maintain a new type of register to list and identify individuals with significant control of their corporation.
However, understanding whether your business meets the ISC Register threshold and navigating the legislation can be challenging. In this webinar, Chad Bayne, founder and Co-Chair of Osler’s Emerging and High Growth Companies Group, explains how to address these amendments and how to interpret the rules, including how to identify significant shareholders (i.e., individuals who have significant control over the shares in the corporation; generally 25% or more of the voting rights or 25% or more of the outstanding shares measured by fair market value) and whether you need to complete the new register.
For more information, listen to the webinar below.
To earn CLE/CPD credits for watching this webinar, watch via our webinar portal.