Proposed Regulations Under the Canada Business Corporations Act and the Canada Cooperatives Act

August 30, 2001

The proposed Canada Business Corporations Regulations, 2001 and the proposed amendments to the Canada Cooperatives Regulations will be published on September 8, 2001 in Part I of the Canada Gazette. These regulations set out the regulatory framework to implement Bill S-11, An Act to Amend the Canada Business Corporations Act and the Canada Cooperatives Act which received Royal Assent on June 14, 2001.

Consultations on the draft regulations were held when Bill S-11 was being examined by Parliament. An earlier draft was also consulted on when the amendments were first tabled as Bill S-19 which died on the Order Paper when the election was called in Fall 2000. The consultations resulted in a number of changes to the proposed regulations. Publication in the Canada Gazette, Part I extends the consultations for an additional 30 days. Any person wishing to provide further comments should forward them to:

Robert Weist
Director, Compliance Branch
Corporations Directorate
Industry Canada
9th Floor, 365 Laurier Ave. W.
Ottawa, ON K1AOC8
Tel: (613) 941-5757
Fax: (613) 941-5781
E-mail: weist.robert@ic.gc.ca

The Regulatory Impact Analysis Statement which accompanies the regulations will also be published in the Canada Gazette. A copy of the statement can be obtained by accessing Corporations Directorate's website or by calling the Corporations Directorate's Information Unit at (613) 941-9042. Electronic copies of the proposed regulations are available on the Canada Gazette website.

It is our intention to acknowledge receipt of any comments from clients such as yourself. You may also wish to consult our website for a summary of comments received to date. Please note that the comments which you send us will become part of the public record, unless you specifically ask us not to divulge them to the public.