Register of individuals with significant control
Apr 30, 2019
In April 2019, the Government of Canada announced that as of June 13, 2019, all Canada Business Corporations Act (CBCA) corporations ― except some distributing corporations ― will be required to create and maintain a new type of register. This is in addition to the registers corporations maintain for shareholders and directors.
The objective of the Register of individuals with significant control, or ISC Register, is to provide greater transparency over who owns and controls a corporation, and to help law enforcement agencies expose activities like money laundering and tax evasion.
The announcement covers:
- Defining 'individual with significant control'
- What is an ISC Register?
- What a corporation needs to do
- Access to the ISC Register
- Choosing not to create or maintain an ISC Register
Review the announcement on the Government of Canada's website.
