21st-Century Business Act
An Act to amend the Canada Business Corporations Act (purpose of a corporation)
This bill is from the 44th Parliament, 1st session, which ended in January 2025.
This bill is from the 44th Parliament, 1st session, which ended in January 2025.
Second reading (Senate), as of May 23, 2024
(This bill did not become law.)
This is from the published bill.
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
(a) benefits the wider society and the environment in a manner proportionate to its size and the nature of its operations; and
(b) 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.
All sorts of information on this bill is available at LEGISinfo, an excellent resource from Parliament. You can also read the full text of the bill.