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CBCA corporations must begin tracking controlling shareholders

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Jan 21, 2019

On January 21, 2019, Torys LLP published an article on how CBCA corporations will soon have to establish a securities register detailing all individuals with significant control over the corporation.

The new regulations under Bill C-86 Budget Implementation Act, 2018, No. 2 become effective on June 13, 2019. Existing record-keeping obligations under the CBCA pertain to registered shareholders only—those named on the corporation’s share certificates, who are often intermediaries holding shares on behalf of beneficial shareholders. The new share register requirements pertain to all individual shareholders, registered or beneficial, who have significant control, direct or indirect, over the corporation.

Review the full article on Torys LLP's website.

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