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Notice - Bill C-86 receives Royal Assent

On December 13, 2018, Bill C-86 Budget Implementation Act, 2018, No. 2 received Royal Assent and will come into force June 13, 2019.

As of June 13, all corporations governed by the Canada Business Corporations Act, except distributing corporations, will be required to maintain a register of all individuals with significant control over the corporation. Corporations Canada will provide additional information on the creation and maintenance of a register before June 2019.

A copy of the bill can be found on the Parliament of Canada’s Legisinfo. Corporations may also wish to seek legal advice in order to better understand how these new requirements affect the corporation.

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