Bill Detail
An Act to amend the Canada Business Corporations Act (purpose of a corporation)
This enactment amends the Canada Business Corporations Act to provide that a corporation’s purpose is to pursue its best interests while also operating in a manner that
benefits the wider society and the environment in a manner proportionate to its size and the nature of its operations; and
minimizes any harm that the corporation causes to the wider society and the environment, with the objective of eliminating such harm.
It also makes related amendments.
This bill, called the 21st-Century Business Act, proposes to change the Canada Business Corporations Act. It aims to shift the primary purpose of corporations from solely maximizing profit to a broader goal. Corporations would be expected to pursue their financial best interests while also actively benefiting society and the environment, proportionate to their size and operations, and minimizing any harm they cause.