Corporations Canada Presentation CRF 2009

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Presentation by Corporations Canada (Harmony and Synergy in Canada)

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Corporations Canada Presentation CRF 2009

  1. 1. Harmony and Synergy in Canada Richard Shaw Director General Corporations Canada April 2, 2009
  2. 2. Background <ul><li>A unique tapestry </li></ul><ul><li>The Canada Constitution Act, </li></ul><ul><li>The Federal authority vs the Provincial and Territorial authority . </li></ul><ul><li>Regulating businesses </li></ul>
  3. 3. The Canadian Landscape <ul><li>In Canada, corporate statutes are administered by both the federal and provincial/territorial governments. In total, there are 14 jurisdictions in Canada. </li></ul><ul><li>Some of the differences between incorporating a business federally vs. provincially include: </li></ul><ul><li>- Name granting protection </li></ul><ul><li>- Annual return filings </li></ul><ul><li>- On-line 24/7 services </li></ul><ul><li>- Electronic meetings </li></ul><ul><li>- Off-shore Minute Books </li></ul>
  4. 4. Legislation <ul><li>Corporations Canada, </li></ul><ul><li>- Canada Business Corporations Act </li></ul><ul><li>- Canada Corporations Act (Not-for-profit) </li></ul><ul><li>Each of the other thirteen jurisdictions have similar legislative basis, although the statutes are not identical: </li></ul><ul><ul><li>Letters Patent </li></ul></ul><ul><ul><li>Memorandum of Association </li></ul></ul><ul><ul><li>Articles of Incorporation </li></ul></ul>
  5. 5. Legislation (continued) <ul><li>. </li></ul><ul><li>When deciding to incorporate, there is a choice between incorporating federally or provincially/territorially. </li></ul><ul><li>This choice is made based on a number of factors: </li></ul><ul><ul><li>the specific legislative requirements of the jurisdictions; </li></ul></ul><ul><ul><li>the location of the registered office; </li></ul></ul><ul><ul><li>the number and residency of directors; </li></ul></ul><ul><ul><li>the cost of the services provided by the registrar </li></ul></ul>.
  6. 6. Percentages of New Corporations
  7. 7. Jurisdictional Analysis
  8. 8. CACLA <ul><li>Canadian Association of Corporate Law Administrators. </li></ul><ul><li>Meets once a year to discuss topics of </li></ul><ul><li> mutual interest and concern. </li></ul><ul><li>Some CACLA members are also associated with the CRF (three attended some sessions of the CRF’s Vancouver 2008 conference as observers). </li></ul><ul><li>Registrars’ Corner </li></ul>
  9. 9. Facing the Future <ul><li>A new NFP Legislation. </li></ul><ul><li>Review of the CBCA. </li></ul><ul><li>New Item System to be released mid-April. </li></ul><ul><li>TILMA a source of inspiration! </li></ul><ul><li>Economic Slowdown </li></ul><ul><li>Building Bridges </li></ul>
  10. 10. Questions?

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