All posts tagged: minority shareholders

Quebec Business Corporations Act in force today

Quebec’s legislative framework for companies incorporated in the province, for years practically shunned by the business and legal community, has been revamped, modernized and simplified, drawing praise alike from corporate and commercial lawyers and shareholder activists.

Replacing both Part I and Part IA of the outdated and much-maligned Companies Act (Act), which was last updated nearly three decades ago, the Quebec Business Corporations Act (BCA) has the ambitious aim of making Quebec a national leader in the business legal landscape thanks to the introduction of measures that clarifies directors’ duties, simplifies the process of incorporating in the province, and grants new rights to minority shareholders.

“It brings Quebec into the 21st century,” remarked Benjamin Silver, counsel to McCarthy Tétrault LLP’s business law group in Montreal.