Professionals without a law degree who have at least five years of senior work experience related to business law (such as finance, governance, regulatory, risk management work) who wish to add an advanced foundation in business law to their professional profile. [12], Where a company's securities are traded publicly on the Toronto Stock Exchange, from 31 December 2012, it is required to:[13][14], In October 2012, the TSX also issued a proposal to require majority voting at uncontested elections.[13][14]. 2019 Maclean’s Best Business Universities in Canada Ranked Alberta School of Business the #4th. [10] Directors elected by a particular class cannot be removed without consent of that class. Summary / Notes: Page 21-38. [87] In determining that a plan of arrangement was fair, no weight was given by the court to the fairness opinion obtained by the directors, as: However, such concern may not apply where a transaction is not being contested, in which case the opinion may considered as evidence that the board had "considered the fairness and reasonableness of the proposed transaction on the basis of objective criteria to the extent possible."[88]. Canada is one of the world's top destinations for business investment, with a well-educated workforce, a wealth of natural resources and free trade arrangements with many of the world's major economies. How to register as self-employed business owner. https://quickbooks.intuit.com/ca/resources/business/what-is-canada-business-corporations-act/. Dissolution is a separate process, which may occur: The following list provides links relating to general Acts of incorporation, other than those relating to cooperatives, financial institutions and organizations incorporated by special Act: "2013 Best Practices for Proxy Circular Disclosure", "Proxy Voting by Canadian Mutual Funds 2006–2009", Peoples Department Stores Inc. (Trustee of) v. Wise, Peso Silver Mines Ltd. It considers Canadian registration requirements, rules regarding the length of protection and the penalties that can be applied when IP rights are infringed. Please contact your financial or legal advisors for information specific to your situation. In response to the increasing use of electronic transactions in commerce and government, new laws focusing on electronic commerce issues have been introduced in Canada. the arrangement is "fair and reasonable". Significant issues can include language of customer service, packaging and catalogues and, increasingly, of websites and social media. The remedy can extend to a wide variety of scenarios: The court's discretion is not unlimited, as the Court of Appeal of Newfoundland and Labrador observed in 2003:[61]. T2P 5C5, Vancouver, British Columbia (958.9 Kb), Canada: Consumer Protection Law Overview it appears to be in the interests of the corporation or its subsidiary that the action be brought, prosecuted, defended or discontinued. This publication is an overview of federal legislation governing intellectual property rights. [83], The Supreme Court of Canada, in its ruling in BCE Inc. v. 1976 Debentureholders, stated that, in seeking court approval of an arrangement, the onus is on the corporation to establish that, To approve a plan of arrangement as fair and reasonable, courts must be satisfied that, Courts should refrain from substituting their views of the "best" arrangement, but should not surrender their duty to scrutinize the arrangement. Since then, it has also expanded into the international arena. To register for and use Pearson's MyLab & Mastering products, you may also need a Course ID, which your instructor will provide. University of Toronto (UofT) - Faculty of Law. The CBCA grants authority to the government to regulate corporate practises and investigate alleged breaches of the law. Extensive jurisprudence in the Canadian courts have expanded on the matter: Within the general duty to avoid conflicts of interest there is a duty for directors and officers to disclose self-dealing. (1.1 Mb), Canada: Real Estate Law Overview The judicial construction of this phrase has been the subject of several significant cases in the courts, and most notably at the Judicial Committee of the Privy Council: The first Federal and Provincial Acts generally provided for incorporation through letters patent, but the procedure was excluded federally for certain classes of company (such as railways and banks), which still had to be incorporated by special Act of Parliament. Among the forms considered are corporations, general partnerships, limited partnerships, sole proprietorships, unlimited companies, joint ventures and franchising and licensing arrangements. The Law & Business Administration in Canada | Pearson. Many of Canada’s smaller-scale corporate laws draw their authority from the CBCA, as well as their inspiration, so that the CBCA is essentially the guidepost for Canada’s secondary business laws. Canada has been a leader in the effort to reduce global trade barriers entering into free trade arrangements with the U.S., Mexico, the E.U. The CBCA covers the rules for founding a corporation or other business structure in Canada, the reporting requirements it operates under, and the approved procedure for dissolving the company when it closes up. This short guide provides an overview of Canada's political and constitutional structure. Prior to Canadian Confederation, companies were organized through several procedures: Before 1862, limited liability was the exception, being conferred on specific companies through royal charter or special Act. More modern cases show some differences in the strictness of the courts' approach: Tripartite Fiduciary Duty and the Principle of Fair Treatment, A detailed examination of the Court's language [in BCE Inc. v. 1976 Debentureholders] reveals that the duty of directors in Canada to 'act honestly and in good faith with a view to the best interests of the corporation' is an implied three-part fiduciary duty, which operationalizes the principle of fair treatment.[34]. (1.0 Mb), Canada: Trade, Investment and Immigration Law Overview Don’t hesitate to consult with a professional who knows the law to be sure you understand the rules you’re doing business under. This Stikeman Elliott guide provides a basic overview of the environmental laws and regulations in effect at the federal and provincial levels. Does the evidence establish that the reasonable expectation was violated by conduct falling within the terms "oppression", "unfair prejudice" or "unfair disregard" of a relevant interest? This publication will help those with insolvency-related questions understand how the Canadian regime functions. 2. (821.9 Kb), Canada: Languages of Business Overview In addition to being a constitutional monarchy and a democracy, Canada is a decentralized federal state in which power over legal matters affecting trade and commerce is often wielded at the provincial rather than the national level. The federal government and some provinces have enacted legislation to govern the private sector's use and disclosure of personal information. The oppression remedy of s. 241(2)(c) of the CBCA and the similar provisions of provincial legislation regarding corporations grant the broadest rights to creditors of any common law jurisdiction. Insolvency and restructuring in Canada fall primarily under federal jurisdiction, with the Bankruptcy and Insolvency Act (BIA) and Companies' Creditors Arrangement Act (CCAA) being the leading statutes in this area.

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