Governance of Canadian Businesses Emergency Act, 2009

An Act to provide the means to rationalize the governance of Canadian businesses during the period of national emergency resulting from the global financial crisis that is undermining Canada's economic stability

This bill was last introduced in the 40th Parliament, 2nd Session, which ended in December 2009.

Status

Second reading (Senate), as of Nov. 18, 2009
(This bill did not become law.)

Summary

This is from the published bill. The Library of Parliament often publishes better independent summaries.

This enactment imposes limits on the remuneration that Canadian business companies receiving emergency financial relief from the federal authorities may pay to their officers and prohibits these companies from paying dividends to their shareholders. It also imposes restrictions on business corporations incorporated federally in respect of the remuneration they may pay to their officers and directors and the benefits they may grant to them.

Elsewhere

All sorts of information on this bill is available at LEGISinfo, provided by the Library of Parliament. You can also read the full text of the bill.