Standing Committee on Industry, Science and Technology

Comité permanent de l'industrie, des sciences et de la technologie

For immediate release

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NEWS RELEASE

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CANADIANS INVITED TO SHARE THEIR IDEAS REGARDING BILL C-25

Ottawa, February 08, 2017 -

The House of Commons Standing Committee on Industry, Science and Technology is undertaking a study on Bill C-25, An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act. Canadians are invited to submit briefs no longer than 5 pages, by February 21, 2017, 5:00 p.m. (EST). Here is a short summary of Bill C-25:

Part 1 amends the Canada Business Corporations Act, the Canada Cooperatives Act and the Canada Not-for-profit Corporations Act to, among other things,

• reform some aspects of the process for electing directors of certain corporations and cooperatives;

• modernize communications between corporations or cooperatives and their shareholders or members;

• clarify that corporations and cooperatives are prohibited from issuing share certificates and warrants, in bearer form; and

• require certain corporations to place before the shareholders, at every annual meeting, information respecting diversity among directors and the members of senior management.

Part 2 amends the Competition Act to expand the concept of affiliation to a broader range of business organizations.

For information on how to prepare a submission, please consult the Guide for Submitting Briefs to House of Commons Committees.

Written briefs may be sent to: INDU@parl.gc.ca.

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For more information, please contact: Danielle Widmer, Clerk of the Standing Committee on Industry, Science and Technology Tel: 613-947-1971 E-mail: INDU@parl.gc.ca