In September, 2016, Navdeep Bains, the federal Minister of Innovation, Science and Economic Development, introduced Bill C-25, which if enacted will make significant changes to the governance of public companies incorporated under the Canada Business Corporations Act.
The CBCA amendments, which have passed second reading in the House of Commons, are now awaiting review by the Standing Committee on Industry, Science and Technology. While far from a revolution in corporate governance, Bill C-25's amendments to the CBCA will reinforce the trend toward increased shareholder democracy and the slow advance toward director diversity.
Lexpert contributor Sheldon Gordon reports at www.lexpert.ca
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