The Law
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As a consequence of Ontario legislation (Schedule 2 to Build Ontario Act S.O. 2021, c. 40, assented to on December 9, 2021) as of January 1, 2023 all Ontario corporations must prepare and maintain a “register of individuals with significant control over the corporation”. Exceptions are made for offering corporations, corporations offering its securities to the public which are subject to provincial regulation, shares listed on designated stock exchanges, and wholly-owned subsidiaries of the foregoing. An outline of the changes and a sample register is provided here for downloading and review. 
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