Are Growth and Practicality Coming to Ontario? Key Corporate Implications from Ontario’s Bill 213, Better for People, Smarter for Business Act, 2020
On December 3, 2020, Bill 213, Better for People, Smarter for Business Act, 2020 (Bill 213), officially entered the Third Reading and was subjected to a deferred vote. This omnibus bill seeks to amend many pieces of legislation and establishes new universities within the province. In relation to corporate law, Bill 213 introduces important amendments […]
No Spooky Spectre for Franchise Suppliers: Supreme Court of Canada’s Recent Ruling on Duty of Care in Multipartite Contractual Relationships
The Supreme Court of Canada (SCC) released its decision in 1688782 Ontario Inc. v. Maple Leaf Foods Inc. on November 6, 2020. In coming to their decision, the five judge majority once again reiterated the well-established Canadian approach to limiting tortious claims for pure economic loss. Brief Facts Maple Leaf Foods Inc. (Maple Leaf) was […]
The Importance of Partnership Agreements
Are you forming a business partnership? It is important to formally set out the details of the terms of the business relationship in writing to avoid any potential conflict between the partners. Should all types of partnerships (e.g. GPs, LPs, LLPs, etc.) have a partnership agreement? The answer in one word: absolutely. Failure to have […]
Big Changes to Corporate Privacy
As of June 13, 2019, all corporations governed by the Canada Business Corporations Act, except some distributing corporations, are required to create and maintain a register for any “individuals with significant control” (ISC) over the corporation. ISC is defined as anyone who has: registered or beneficial ownership of 25% or more of the corporation’s shares; […]
New Corporate Records Obligations Imposed on CBCA Corporations
On December 13, 2018, Bill C-86, the Budget Implementation Act, 2018, No. 2 received Royal Assent. The Bill amends a wide range of Federal Legislative Acts, one of which is the Canada Business Corporations Act (“CBCA”). The significant change introduced by the Bill is that the CBCA corporations are now required to prepare and maintain […]
Real Estate in Ontario — Will it Incorporate or Not?
Real estate remains one of the only regulated professions in Ontario that cannot incorporate under the law. Bill 38, “An Act to amend the Business Corporations Act and the Real Estate and Business Brokers Act, 2002, with respect to personal real estate corporations,” nicknamed the “Tax Fairness for Real Estate Professionals Act, 2018” aims to […]
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