Bill Detail
An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts ✓ Became Law
BillC-42
Session44-1
StageLaw (royal assent given)
Introduced2023-03-22
Proposed byFrancois Philippe Champagne
This enactment amends the Canada Business Corporations Act to, among other things,
It also makes consequential and related amendments to other Acts.
✦ AI Summary
This bill makes significant changes to how corporations in Canada are managed, particularly regarding transparency about who truly controls them. Corporations must now collect and report detailed information about individuals with significant control, including their names, birth dates, and addresses. This information will be made available to the public, though exceptions exist for safety or confidentiality reasons. The goal is to increase accountability and prevent illicit activities by making ownership and control more visible.
Generated by Gemini · may contain errors
Legislative Timeline
2023-03-22
First reading
✦ AIBill proposes public disclosure of beneficial ownership info.
Current
Law (royal assent given)
✦ AIAnnual reporting of beneficial ownership information added.
Votes
Vote #: 407
Date: 2023-06-22
Result: Passed
Yes: 321
No: 0
Paired: 2
Yes / No Ratio
Yes100.0%
No0.0%
How each party voted
| Party | Position | Yes | No |
|---|---|---|---|
| Bloc | Yes | 100% | 0% |
| Conservative | Yes | 100% | 0% |
| Green | Yes | 100% | 0% |
| Liberal | Yes | 100% | 0% |
| NDP | Yes | 100% | 0% |