An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts

An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts. Royal assent November 2, 2023 (S.C. 2023, c. 29). Creates the federal beneficial-ownership registry for CBCA-incorporated corporations. Requires CBCA corporations to file with Corporations Canada the names, addresses, dates of birth, and citizenship of individuals with significant control (defined as individuals with 25% or more of voting shares, or with the right to elect a majority of directors, or with direct or indirect significant influence). The registry becomes publicly searchable for most fields. Major federal step against money laundering and sanctions evasion, in step with the international Financial Action Task Force standards. Sponsored by François-Philippe Champagne as Minister of Innovation, Science and Industry.

Sponsored by

François-Philippe ChampagneLIBERAL→