Industry committee  The way comply or explain works under the securities commissions currently is that the management circular that's provided to shareholders on an annual basis asks for the gender makeup. In the Ontario Securities Commission's case, it actually asks about the percentage of women in

Industry committee  That's right.

Industry committee  If there's a policy of diversity beyond gender, the corporation would similarly summarize that for their shareholders and explain what efforts they are taking to improve diversity beyond gender within their senior management and on their board. If they don't have a policy, they w

Industry committee  The policy is a general policy. It's not a policy on each individual candidate. The candidate proposals from the board are a separate issue that would be put before members in terms of what information they would provide, but the policy is a diversity policy beyond gender. It wou

Industry committee  This would be a significant expansion of the Employment Equity Act's four groups. The four groups under the Employment Equity Act are women, visible minorities, persons with disabilities, and aboriginal peoples. Adding “colour”, “religion”, and “national origin” would be quite su

Industry committee  I couldn't speak to the rationale or not. I would just say that the employment equity groups were put in because they're easily defined and allow people to comply with a self-identification process.

Industry committee  Thank you. With respect to the way the bill is laid out in terms of “prescribed information” respecting gender representation and diversity, the regulation would be guided by the legislation as passed. In this particular case, the regulations would have to indicate the prescribe

Industry committee  The regulation-making process follows the legislative authority of Parliament. Once an act has given regulation-making authority to the minister, the royal assent on the bill is then prescribed to justice drafters, who then work through the regulation-making process. The regulati

Industry committee  That's correct.

Industry committee  You can read this in two different ways. Right now the way the act reads is that, “The directors of a prescribed corporation shall place before the shareholders, at every annual meeting, the prescribed information respecting diversity”. While this is not an exhaustive list, “inc

Industry committee  The regulations provide guidance on what might be included in a diversity policy. Currently, the prescribed information in the draft regulations relates to the securities commission's definitions of gender makeup for boards and senior management, as well as gender policy. Diver

Industry committee  The main change here is—

Industry committee  Amendments Liberal-3, Liberal-4, and Liberal-2 all speak to the same concept of notice and access, which was the intent of the bill. That's to avoid having people make an annual declaration to the director of Corporations Canada for an exception to pursue the notice and access sy

Industry committee  The distinction is that, in Bill C-25 as it's currently set up, distributing corporations, those trading shares to the public, would be required to disclose prescribed information related to gender and diversity to their shareholders on an annual basis. The act does not apply to

Industry committee  Currently in the act, the exemptions by and large for particular sets of the legislative requirements are to the director of Corporations Canada, and they are via a form. For instance, when we get to the notice and access provisions, right now there's an exemption for notice and