Changes to Ontario Business Corporations Act to Come into Force on July 5, 2021
By EsqSocial Corporation 25/06/21
Effective July 5, 2021 corporations governed by Ontario’s Business Corporations Act (OBCA) are no longer required to have any “resident Canadian” directors. As noted in our October 2020 Blakes Bulletin: Ontario Proposes Changes to Business Corporations Act, the Government of Ontario introduced legislation to make certain amendments to the OBCA to eliminate the director residency requirement and, in the case of privately-held OBCA corporations, introduce more flexible rules regarding the...
By: Blake, Cassels & Graydon LLP