S-285Government of Canada
An Act to amend the Canada Business Corporations Act (purpose of a corporation)
21st-Century Business Act. Amends the Canada Business Corporations Act to allow directors of federally incorporated companies to consider broader stakeholder interests (workers, customers, communities, environment) when discharging their fiduciary duty, going beyond shareholder-primacy doctrine.
Status
✓
Introduced✓
1st Reading3
2nd Reading4
Committee5
Report6
3rd Reading7
Royal AssentQuick learn
Lets directors of federal corporations consider workers, customers, communities, and environment, not just shareholders. Moves Canadian corporate law past shareholder-primacy.
Issues this bill touches
- Economy & Jobs
21st-Century Business Act: lets directors of federal corporations consider workers, customers, communities, and environment.
Legislative history
- First reading
First reading in the Senate.
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Official source
Read full text on Parliament of Canada