Thank you for your input, the consultation period is now closed.
The Business Corporations Act (BCA) provides the legislative framework to create and operate business corporations in the Province. An overall review of this Act has not been done since 1981 when it was enacted. Government is looking to modernize the Act to:
- reflect current marketplace practices and the digital economy
- harmonize with similar laws of other Canadian jurisdictions
- provide an efficient and globally competitive corporate law environment
- ensure the Province’s corporate and securities law regimes work together.
Legislative requirements for mandatory insurance coverage for Limited Liability Partnerships (LLP) present significant challenges for professionals wanting to form this type of partnership. A more practical approach is being sought.
Government Services is proposing major reform to the BCA and changes to LLP legislation based on extensive stakeholder consultation.