Certainly, the intent is obviously for the director of Corporations Canada to share the information with provinces and territories. The “may provide” in this particular case is there because the provinces and territories have not yet all—to date—accepted to participate in a pan-Canadian registry.
Absent actual formal participation, this would have an obligation for the director of Corporations Canada to send potentially sensitive information to a province with no capacity to receive it or potentially to a registry that is not yet interoperable with the federal one. Our goal here was to say “may provide”, and obviously, the intent, the whole goal of this, is to make it interoperable, but there are instances where it would not be appropriate to do so.