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Proposed Ontario legislation would strengthen shareholder rights and board diversity

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Apr 06, 2017

In 2017, the Legislative Assembly of Ontario released Bill 101, Enhancing Shareholder Rights Act, 2017. The Bill makes various amendments to the Business Corporations Act with respect to meetings of shareholders, the process for electing directors and the use of proxies.

The new Part IX.1 requires certain corporations to place before the shareholders, at every annual meeting, information respecting diversity among directors and the members of senior management.

Finally, the Act is amended to provide shareholders with the opportunity to propose an executive compensation policy at a meeting of shareholders. The directors of the corporation would be required to comply with the policy if it is adopted.

Review the Bill on the Legislative Assembly of Ontario's website.

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