The Cutting Unnecessary Red Tape Act, 2017

The Cutting Unnecessary Red Tape Act, 2017 received Royal Assent on November 15, 2017, although much of it is not yet in force. 

It amends statutes including:

  • Business Corporations Act

  • Business Names Act

  • Corporations Act

  • Corporations Information Act

  • Extra-provincial Corporations Act

  • Limited Partnerships Act

  • the unproclaimed Not-for-Profit Corporations Act, 2010.

The Cutting Unnecessary Red Tape Act, 2017, fills an existing gap in the OBCA shareholder proposal regime, makes several of the pending amendments under the ONCA available to not-for-profit (‘‘NFP’’) corporations formed under Part III of the OCA even before the ONCA is proclaimed in force, and generally takes a critical step forward in setting the stage for the ONCA to eventually replace the OCA. It also includes measures that promise to reduce undue burdens on small businesses when introducing or amending regulations, increases harmonization with other jurisdictions and expands the availability of electronic filing options.

© Copyright Westlaw Canada, Thomson Reuters Canada Limited. All rights reserved.