Introduction Regular legal assessments help small businesses preemptively address legal issues, ensuring compliance with laws, optimizing tax strategies, and effectively managing risks. This guide is tailored for Alberta small business owners, offering a roadmap for identifying potential legal concerns before they become legal problems. This guide covers corporate governance, contractual obligations, compliance, and more, focusing on actionable insights for incorporated business owners. Legal Disclaimer: This guide is for informational purposes and does not constitute legal advice. Contact our Alberta business law firm if you require help with specific issues. 1. Corporate Structure ☐ Review Business Structure: Evaluate if your business structure aligns with your current and future needs. Determine if changes are required for directors, officers, and shareholders. ☐ Structural …
New ISC Requirements for Federal Corporations in Canada
Introduction Recent amendments to the Canada Business Corporations Act (CBCA) have brought about significant changes in the disclosure and filing requirements for Individuals with Significant Control (ISC) registers for most federal corporations. This post aims to detail these changes and guide federal corporations through the updated process. Understanding ISC and ISC Registers An ISC is an individual who has significant control over a federal corporation. This means that the person: An ISC register is a record of all such individuals for a specific federal corporation. Current ISC Procedures Since 2019, all federally incorporated companies in Canada have been required to maintain an ISC register. This register was required to contain basic information about ISCs (such as names and addresses) and …
Employee Voting on Election Day
The next federal election is taking place in Canada on October 21st. Most employers are aware that employees are entitled to take time off on election day to cast their ballot, however, many employers (and employees) are unsure how the rules work. This post will take a quick look at the rules and hopefully provide some clarity. The Rules: The Canada Elections Act provides that employees (with a few limited exceptions) are entitled to have 3 consecutive hours to cast their ballot on the day of a federal election. Many employees think that this means they’re entitled to take 3 hours off from work. That’s usually not the case. An employee will only be entitled to take time off to …