Industry committee  The specifics in NDP-9...?

Industry committee  This essentially institutes hard gender quotas, if I'm reading this correctly, which would apply to all corporations, small and large, distributing and non-distributing. I won't speak to the politics of it. I would simply say that the proposed approach is to require gender and

Industry committee  On shares prior to 1975, can I defer to my colleague? This is Coleen Kirby.

Industry committee  It's the option. In section 29, it doesn't concern the share; it concerns options and rights and transferable rights. These are transferable rights that exist in option form. They're not yet shares. Once they're shares, in order to conform with the act, they must be in registered

Industry committee  We sought, as I said, both independent legal opinion and the opinion of the justice department. Their view, both the independent legal opinion and ours, is that bearer shares are illegal in this country and that what we are closing is the remaining loophole, which is simply relat

Industry committee  Yes. Our view is that options now must be converted into a share of registered form by a corporation when presented by the holder.

Industry committee  They can't have a bearer share. They can only hold a bearer option, because bearer shares don't exist in that all shares must be in registered form.

Industry committee  Our view would be that subsection 24(1) requires that all shares be in registered form.

Industry committee  Everyone's corporate law is very different, so it's very difficult to be able to map. People have come at bearer shares in different ways. The consistent approach is to require that shares be in registered form, which we believe our act does.

Industry committee  Our act does.

Industry committee  Sure. This is a long-standing issue as to the degree to which the Canada Business Corporations Act outlaws bearer shares or not. We have had discussions with both Publish What You Pay Canada and Transparency International, the global anti-corruption coalition, as part of our FATF

Industry committee  I will certainly try.

Industry committee  The corporations in Canada have a number of choices, and there are a couple of distinctions. One is that they can choose to incorporate provincially or federally, because the commercial power is split between the provinces and the national government. Moreover, there is then, i

Industry committee  Obviously our insolvency statutes, the Companies' Creditors Arrangement Act and the Bankruptcy and Insolvency Act, are the primary mechanisms by which insolvency law plays out in Canada, so those laws were also reviewed and a recommendation was sent to this committee, which looke

Industry committee  Split-share structures and voting versus non-voting were consulted about in the 2014 consultations on the CBCA, and there was no consensus. There is an ongoing debate in the corporate governance community about class A and class B, voting and non-voting shares.