An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts (S.C. 2023, c. 29)

Marginal note:Examination

• 266 (1) A person who has paid the required fee is entitled during usual business hours to examine and make copies of or take extracts from a document or other information — except an application referred to in subsection 21.303(3) and any related document and a report sent to the Director under subsection 230(2) — that is required to be sent to the Director under this Act or that was required to be sent to a person performing a similar function under prior legislation.

Marginal note:Information not to be made available

• 266.1 (1) The Director shall not make available any information that could reasonably be expected to reveal the identity of a person who, on their own initiative, provides information relating to the commission or potential commission of a wrongdoing, or any information provided by the person in relation to the commission or potential commission, unless the person providing the information consents to its being made available.

• Marginal note:Exception — investigations

  (2) Despite subsection (1), the Director may provide information referred to in that subsection to an investigative body referred to in subsection 21.31(2), the Financial Transactions and Reports Analysis Centre of Canada or any prescribed entity.

• Marginal note:Definition of wrongdoing

  (3) In this section, wrongdoing includes

  • (a) a contravention of any provision of this Act or the regulations;

  • (b) the formation of a corporation for a fraudulent or unlawful purpose; or

  • (c) any fraudulent or dishonest actions of persons concerned with the formation, business or affairs of a corporation.

• Canada Business Corporations Act

  Loi canadienne sur les sociétés par actions

• (u) provide to an official of the Department of Industry, solely for the purpose of verifying and validating the data required to be sent under section 21.21 of the Canada Business Corporations Act in respect of a private corporation (in this paragraph referred to as the “particular corporation”), the following information:

  • (i) for each corporation (in this paragraph referred to as the “subject corporation”) that is related to or associated with the particular corporation in a taxation year,

    • (A) the name of the subject corporation,

    • (B) the jurisdiction of residence of the subject corporation,

    • (C) the business number of the subject corporation,

    • (D) the relationship between the particular corporation and the subject corporation,

    • (E) the number of shares of each class of the capital stock of the subject corporation that are owned by the particular corporation, and

    • (F) the percentage of all the issued and outstanding shares of each class of the capital stock of the subject corporation that are owned by the particular corporation,

  • (ii) for each shareholder that holds at least 10% of any class of the capital stock of the particular corporation in a taxation year,

    • (A) the name of the shareholder,

    • (B) whether the shareholder is a corporation, partnership, individual or trust,

    • (C) as the case may be, the shareholder’s

      • (I) business number,

      • (II) partnership account number,

      • (III) social insurance number, or

      • (IV) trust account number, and

    • (D) the percentage of all the issued and outstanding shares of each class of the capital stock of the particular corporation that are owned by the shareholder, and

  • (iii) the taxation year to which the information described in subparagraphs (i) and (ii) relates.

• (c) respecting the verification of the identity of persons and entities referred to in section 6.1 and requiring the reporting to government institutions or agencies of any discrepancies in information on the beneficial ownership or control of an entity arising out of that verification;

Marginal note:Examination

• 266 (1) A person who has paid the required fee is entitled during usual business hours to examine and make copies of or take extracts from a document or other information — except any information sent under section 21.21, an application referred to in subsection 21.303(3) and any related document and a report sent to the Director under subsection 230(2) — that is required to be sent to the Director under this Act or that was required to be sent to a person performing a similar function under prior legislation.

• Marginal note:Copies or extracts

  (2) The Director shall, on request, provide any person with a copy, extract, certified copy or certified extract of a document that may be examined under subsection (1).