The Law
With the publication in the Ontario Gazette April 6, 2024 edition the previously un-proclaimed provisions of the Build Ontario Act (Budget Measures), 2021, amending the Business Corporations Act to introduce the requirement of a new (internal) register of shareholder’s holding significant control of a corporation, have come into law, effective April 1, 2024. Despite the date the announcement is no joke. Attached is a sample register and accompanying record for annual update checks the contents of which meet the requirements of the new provision.
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