In November 2018, the Standing Committee on Finance released a report to address the issue of money laundering and terrorist financing in Canada. The Committee’s first recommendation emanated from the corporate registry regime in the United Kingdom (“UK”). In an attempt to emulate the UK’s system, the Committee recommended that the Canadian government work with the provinces and territories to maintain a register for all legal persons and entities with significant control over a corporation.
Requirements for share registers
On June 13, 2019, previous amendments to the Canada Business Corporations Act (“CBCA”) came into force. These amendments, introduced … Continue Reading