INDU Committee News Release
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Standing Committee on Industry, Science and Technology
For immediate release
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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