As of August 1, 2007, the Business Corporations Act, Ontario has been updated.
In this season’s issue of Update, we have highlighted some of the more significant changes to this widely used Act.We have included a description of the amendments that affect:
Directors and Officers, including new defences, indemnity and insurance provisions as well as updated conflict of interest requirements;
Shareholder Rights, especially those changes which relate to new rights and remedies available to the beneficial owners of shares;
Corporate Procedures for electronic communication, share certificates, dissolutions and revivals; and
Corporate Finance, including amended rules for financial assistance, share structure and ownership.
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