I am a little bit puzzled that in this case our government is seeking to consult before implementing the searchability of this registry, but when it came to the Competition Act, the consultations were being done after the fact rather than before the fact, which is very disappointing.
Again, going back to the registry itself, I'm going to read the provision of section 433 of the BIA which establishes the registry. It reads:
A corporation...shall
on an annual basis, send to the Director the information in its register of individuals with significant control over the corporation, in the form and within the period that the Director fixes;
I want to emphasize the words “individuals with significant control over the corporation”. Is that term defined anywhere in the BIA or in the Canada Business Corporations Act?