2. 2
PRESENTATION
โข The Canadian Landscape
โข What we do
โข Why we do it
โข How we do it
โข Measuring Compliance
โข Where do we go from here
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The Canadian Landscape
โข Corporations Canada is a branch of Industry
Canada, the federal government department
dedicated to serving business interests in
Canada
โข Our headquarters are in Ottawa, the capital city
of Canada, and we have satellite offices in three
other cities
โข We have a staff of approximately 100 people
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The Canadian Landscape
โข Constitutional Reality
โข 13 jurisdictions
โข Corporations Canada leader on the
highway of corporate reality
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What we do
โข We administer the federal corporate law
framework under which federal
corporations operate
โข Our main lines of business include:
โ Incorporating businesses and approving
changes to corporate structures
โ Providing corporate information to the public
โ Monitoring compliance and policy
development with regard to the statutes that
we administer
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What we do
โข We generate between $8M and $10M
through user fees every year
โข We process in excess of 250,000 requests
per year
โ in 2005-06, we processed 25,000
incorporations and over 120,000 annual
returns
โ 70,000 telephone inquiries
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What we do
โข We make sure that corporations file
required information with us
โ Annual returns
โ Changes to important information
โข Changes to corporation names
โข New directors
โข Changes of address
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Why we do it
โข So the people who need necessary
information can
โ get it quickly and easily;
โ be sure that it is accurate and reliable; and
โ ensuring that Canada has a strong and
efficient marketplace economy
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How we do it
โข We have five techniques:
โ A. Awareness
โ B. Facilitation
โ C. Reminders
โ D. Audit
โ E. Dissolution
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Technique (1)
A. Awarenessโฆ
We make tremendous effort to inform
corporations of their filing obligations
โ Information brochure sent on incorporation
โ Information booths/publications
โ Website: www.corporationscanada.ic.gc.ca
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Technique (2)
B. Facilitation
We continuously strive to find new ways
to make the filing obligations easier to
meet
โ New user-friendly forms
โ Information kits, policies on how to file
โ Telephone assistance 1-866-333-5556
โ On-line filing is easier and cheaper
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Technique (3)
C. Reminders
We remind them of their filing obligations
on a regular basis
โ Friendly reminder notices for annual returns
are sent to each corporation before they are
due
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Technique (4)
D. Audit
Our targeted audit program identifies and
addresses over 4,000 delinquent
corporations per year
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Technique (5)
E. Dissolution
Our dissolution program automatically
dissolves corporations who have not filed
annual returns for more than two
consecutive years
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How we are doing
โข In 2002, before we implemented a lot of
these techniques, the compliance rate for
filings was mediocre
โ approximately 47%
โข In 2005, the compliance rate for filing is
closer to 80%
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Compliance โ
The Future
Our goal for the future: To continue to improve
upon and add to our compliance techniques
โ We will use technology and other tools to find new
and better ways to inform corporations of their filing
requirements and to make filing easier
โ We will improve our reminder notice program, our
audit program and our dissolution program to be
corporation specific and to address other persistent
problems
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Compliance is key
This is key to ensuring certainty in the
Canadian marketplace and creating a
business environment that supports
innovation and economic growth in
Canada