Forward Regulatory Plan: 2019 to 2021 – Corporations Canada

Regulatory Initiative: Amendments to the Formal Documents Regulations

Enabling act(s)

Public Officers Act

Description

A review of the Formal Documents Regulations was conducted by Corporations Canada to modernize the Regulations and to remove obsolete provisions. The review has resulted in proposed amendments to the Regulations. The changes will only affect the machinery of government and have the objectives of:

  • streamlining the Registrar General of Canada's duties;
  • eliminating unnecessary provisions, such as commissions for consuls generals and vice consuls; and
  • clarify the rules for the issuance of commissions in relation to appointments to federal commissions, boards and corporations including which seal is used and which federal commissions, boards and corporations are affected.

Regulatory cooperation efforts (domestic and international)

The proposal is unrelated to a work plan or commitment under a formal regulatory cooperation forum.

Potential impacts on Canadians, including businesses

This is an internal government administrative issue so there are no expected impacts on Canadians.

Consultations

These amendments will only affect the machinery of government and are of an administrative nature. Accordingly, there are no public consultation opportunities planned. Treasury Board of Canada Secretariat approval will be sought for exemption to Canada Gazette Part I pre-publication.

Further information

There is no further information available.

Departmental contact information

Corporations Canada

If you wish to contact the department, please use the following:

By phone: 1-866-333-5556
By email: ic.corporationscanada.ic@canada.ca

Date the regulatory initiative was first included in the Forward Regulatory Plan

April 2016


Regulatory Initiative: Fee changes for services offered under the Canada Business Corporations Regulations, 2001, the Canada Not-for-profit Corporations Regulations and the Canada Cooperatives Regulations

Enabling act(s)

Canada Business Corporations Act
Canada Cooperatives Act
Canada Not-for-profit Corporations Act

Description

The objective of the fee initiative is to amend service fees based on the following principles:

  • better align service fees with the cost of providing the service;
  • encourage the use of low-cost service delivery methods;
  • promote compliance with the act; and
  • support greater corporate transparency.

The fee initiative will also address some concerns on wording raised by the Standing Joint Committee for the Scrutiny of Regulations and will add an automatic periodic escalator in relation to the Service Fees Act.

Regulatory cooperation efforts (domestic and international)

The proposal is unrelated to a work plan or commitment under a formal regulatory cooperation forum.

Potential impacts on Canadians, including businesses

While there will be costs for businesses from the fees that are increasing, the reduction in other fees results in a net reduction of costs on businesses of over $2.2M a year. This is due to the lower annual return fee and the removal of fees for online copies of corporate documents and simple amendments.  For the fees that are increasing, they will encourage businesses to submit their requests online to avoid the increase.

Consultations

A preliminary consultation on the proposed changes to the service fees was held in summer 2018. Information on that consultation is available on the ISED website as Public consultations on proposed service fees for the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act.

The next opportunity for consultations are when the draft regulations are published in the Canada Gazette Part 1, which is expected in March 2019. A notice about the publication in the Canada Gazette Part 1 will be sent to stakeholders and will be posted on the website.

Further information

For information on what is being proposed, please see as Public consultations on proposed service fees for the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act.

Departmental contact information

Corporations Canada
If you wish to contact the department, please use the following:
By phone: 1-866-333-5556
By email: ic.corporationscanada.ic@canada.ca

Date the regulatory initiative was first included in the Forward Regulatory Plan

April 2018


Regulatory Initiative:  Fee changes for services offered under the Canada Business Corporations Regulations, 2001, the Canada Not-for-profit Corporations Regulations and the Canada Cooperatives Regulations

Enabling act(s)

Canada Business Corporations Act
Canada Cooperatives Act
Canada Not-for-profit Corporations Act

Description

The objective of the fee initiative is to amend service fees based on the following principles:

  • better align service fees with the cost of providing the service;
  • encourage the use of low-cost service delivery methods;
  • promote compliance with the act; and
  • support greater corporate transparency.

The fee initiative will also address some concerns on wording raised by the Standing Joint Committee for the Scrutiny of Regulations and will add an automatic periodic escalator in relation to the Service Fees Act.

Regulatory cooperation efforts (domestic and international)

The proposal is unrelated to a work plan or commitment under a formal regulatory cooperation forum.

Potential impacts on Canadians, including businesses

While there will be costs for businesses from the fees that are increasing, the reduction in other fees results in a net reduction of costs on businesses of over $2.2M a year. This is due to the lower annual return fee and the removal of fees for online copies of corporate documents and simple amendments. For the fees that are increasing, they will encourage businesses to submit their requests online to avoid the increase.

Consultations

A preliminary consultation on the proposed changes to the service fees was held in summer 2018. Information on that consultation is available on the ISED website as Public consultations on proposed service fees for the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act.

The next opportunity for consultations are when the draft regulations are published in the Canada Gazette Part 1, which is expected in March 2019. A notice about the publication in the Canada Gazette Part 1 will be sent to stakeholders and will be posted on the website.

Further information

For information on what is being proposed, please see as Public consultations on proposed service fees for the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act.

Departmental contact information

Corporations Canada
If you wish to contact the department, please use the following:
By phone: 1-866-333-5556
By email: ic.corporationscanada.ic@canada.ca

Date the regulatory initiative was first included in the Forward Regulatory Plan

April 2018


Consult ISED's acts and regulations web page for:

  • a list of acts and regulations administered by [department name]
  • further information on ISED's implementation of government-wide regulatory management initiatives

Consult the following for links to the Cabinet Directive on Regulation and supporting policies and guidance, and for information on government-wide regulatory initiatives implemented by departments and agencies across the Government of Canada:

To learn about upcoming or ongoing consultations on proposed federal regulations, visit:


Regulatory Initiative: Minor technical amendments to Schedule 1 under the Canada Business Corporations Regulations, 2001 and Schedule 4 under the Canada Cooperatives Regulations

Enabling act(s)

Canada Business Corporations Act
Canada Cooperatives Act

Description

The objective of these amendments is to:

  • include references to missing provincial (Prince Edward Island) and the three territorial securities legislation to the schedules under the Canada Business Corporations Regulations, 2001 and the Canada Cooperatives Regulations so that their definition of "reporting issuer" is part of the definition of "distributing corporation" under the Canada Business Corporations Act and of "distributing cooperative" under the Canada Cooperatives Act and,
  • update the reference to the Quebec Securities Act in the schedule to the Canada Business Corporations Regulations, 2001 and the Canada Cooperatives Regulations.

Regulatory cooperation efforts (domestic and international)

The proposal is unrelated to a work plan or commitment under a formal regulatory cooperation forum.

Potential impacts on Canadians, including businesses

This is an internal government administrative issue so there are no expected impacts on Canadians.

Consultations

These are minor, technical amendments. There are no public consultation opportunities planned. Treasury Board of Canada Secretariat approval will be sought for exemption to Canada Gazette Part I pre-publication.

Further information

There is no further information available.

Departmental contact information

Corporations Canada
If you wish to contact the department, please use the following:
By phone: 1-866-333-5556
By email: ic.corporationscanada.ic@canada.ca

Date the regulatory initiative was first included in the Forward Regulatory Plan

April 2019


Regulatory Initiative: Amendments to Canada Business Corporations Regulations, 2001, Canada Cooperatives Regulations and Canada Not-for-profit Corporations Regulations

Enabling act(s)

Canada Business Corporations Act
Canada Cooperatives Act
Canada Not-for-profit Corporations Act

Description

On May 1, 2018, Bill C-25 An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act received Royal Assent. Some of the proposed statutory amendments, which affect distributing corporations and cooperatives, will require regulations to provide for:

  • the election of directors, which includes individual voting and voting for and against a director;
  • notice and access process for sending of documents, including financial statements, required for shareholder meetings;
  • disclosure of diversity amongst directors and members of senior management.

There are also regulatory amendments of an administrative and technical nature, such as:

  • fixing time periods (for example, 90 days for the pre-approval of a corporate name and 90 to 150 days before the anniversary of the previous annual meeting as the time period for sending shareholder proposals to the corporation);
  • setting the prescribed circumstances for an exemption request (for example, the exemption will not prejudice any of the shareholder or the public interest);
  • repeal spent regulations (for example, the time period for filing an annual return under section 263 of the CBCA); and
  • typographical errors (for example, incorrect section numbers; and inconsistencies between English and French versions).

Regulatory cooperation efforts (domestic and international)

Most of the amendments will only apply to distributing corporation who also have requirements under provincial securities law rules. The aim is to harmonize the amendments with those rules where appropriate. This includes the provincial securities law requirements for:

  • diversity disclosure;
  • notice and access for sending documents to shareholders before a meeting of shareholders; and
  • provision of financial statements to shareholders of distributing corporation.

Potential impacts on Canadians, including businesses

There may be business impacts although most of the amendments will only apply to distributing corporations. The "One-for-One" Rule and/or the Small Business Lens may apply.

Consultations

When Bill C-25 was before Parliament, information on potential regulations was posted on ISED's website as Notice – Bill C-25 proposed regulations.

Once the draft regulations are prepared by Justice Canada, a preliminary consultation will be held. A notice and documents will be proposed on the ISED website and a notice about the consultations will be sent to stakeholders and will be posted on the website. The aim is to conduct that consultation in the fall of 2019.

There will be a final opportunity to comment when the draft regulations are published in the Canada Gazette Part 1, which is expected in winter 2020. A notice about the publication in the Canada Gazette Part 1 will be sent to stakeholders and will be posted on the website.

Further information

Information on the proposed regulations is posted on ISED's website as Notice – Bill C-25 proposed regulations.

A copy of Bill C-25 An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act and the Competition Act is available on the Parliamentary website.

Departmental contact information

Corporations Canada
If you wish to contact the department, please use the following:
By phone: 1-866-333-5556
By email: ic.corporationscanada.ic@canada.ca

Date the regulatory initiative was first included in the Forward Regulatory Plan

April 2019


Consult ISED's acts and regulations web page for:

  • a list of acts and regulations administered by [department name]
  • further information on ISED's implementation of government-wide regulatory management initiatives

Consult the following for links to the Cabinet Directive on Regulation and supporting policies and guidance, and for information on government-wide regulatory initiatives implemented by departments and agencies across the Government of Canada:

To learn about upcoming or ongoing consultations on proposed federal regulations, visit:

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