International Society of Primerus Law Firms

Houser, Henry & Syron LLP (Toronto, Canada) The Business Corporations Act, Ontario has been updated.

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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The general information contained herein is intended for informational purposes only. It is not intended to be, and should not be construed as, legal advice or legal opinion on any specific facts or circumstances.

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