Industry committee  If you mean the difference between soliciting and non-soliciting, the bill actually does give only minimal standards. There are only five differences between soliciting and non-soliciting corporations. Soliciting corporations have to have three directors instead of one; non-sol

Industry committee  As the minister said, the filings can be handled electronically. Communications between the corporation and its members can be handled electronically, if the corporation and the members so desire. There's nothing in the act that compels them to do that, but it does permit it. For

Industry committee  Under the current law, soliciting corporations, and all corporations, are required to have their financial statements audited, but they're not required to give them to members; they only have to give them a summary or a statement of the financial situation of the corporation. S

Industry committee  The act is pretty open-ended; it doesn't restrict any method of communication. It does allow the corporations itself to choose the method of communication with the government. As technology evolves, they can use whatever mechanisms are available to them. It's not restrictive in t

Industry committee  There will be model articles provided, model bylaws. The Corporations Canada website, which Coleen can better speak to than I, will be a useful tool for any corporations that are going to be transitioning into this bill.

Industry committee  I'll just say that the act is not intended to have a direct impact on the day-to-day operations of any given corporation. It's a framework law. It sets the broadest parameters for their organization, the relationships between the officers, the directors, their members; a number o

Industry committee  The bill is very similar, if not exact, to the Canada Business Corporations Act and the Canada Cooperatives Act in that the act itself does not define what the accounting standards are. It really doesn't care. But to the extent that there's a coexistence of corporate entities wit

Industry committee  Again, notwithstanding the acts that were cited by the CGAs, it's consistent with other corporate statutes administered by Industry Canada.

Industry committee  It's $50,000 and lower that one need not do an audit. First, there are member remedies. The financial statements have to be provided to members, even though they're not audited. This $50,000 would be for soliciting corporations. Those financial statements, even though they may n

Industry committee  Allow me to back up a bit. A soliciting corporation is actually easier to define. A soliciting corporation is a corporation that receives money from the public, or from a government grant of any level of government, or from another corporation that receives money from the public

Industry committee  If you make everybody a soliciting corporation or put them.... First of all, there are only about five rules that are different between the two. A soliciting corporation must have three directors. A non-soliciting corporation can have one. A soliciting corporation has to file it

Industry committee  What I'm saying is that if you make everybody soliciting, you're increasing the burden upon non-soliciting corporations.

Industry committee  A summary for 2000 and 2002 was posted on the Industry Canada website. That can be provided to the committee if you wish. We have it in both official languages.

Industry committee  I believe we have the 2005 one. Yes, we have a summary of the 2005 one, which was conducted by Corporations Canada.

Industry committee  We had an indication that it might be the case, but we haven't seen a notice of meeting.