Canadian private federal corporations will be required — as of June 13, 2019 — to maintain a register of individuals considered to have significant control of a business in accordance with Bill C-86, the Budget Implementation Act, 2018, No. 2.
To assist you, BLG has developed a toolkit that organizations may use to prepare as non-compliance could result in significant penalties for both the organization and its board of directors:
- Bill C-86: What you need to know and how to prepare
- New Requirements Regarding Beneficial Ownership of Federal Corporations
- New Register of Individuals with Significant Control Checklist
- Register of Individuals with Significant Control (Sample)
- Resolution for Location of Register of Individuals with Significant Control (Sample)
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.