News

Extensive amendments to the Bankruptcy and Insolvency Act (“BIA”) and Companies’ Creditors Arrangement Act (“CCAA”) coming into force on November 1, 2019 through Bill C-97 will have a significant effect on certain aspects of insolvency proceedings commenced after that date. The wide-ranging revisions to both the BIA and CCAA will likely foster changes to the currently existing insolvency and restructuring practice in Canada.

The BC government proposes sweeping changes to the Securities Act (British Columbia) (the “Act”), which will allow the British Columbia Securities Commission (“BCSC”) to better address white collar investment crime. Proposed through Bill 33 Securities Amendment Act, 2019, the amendments will provide the BCSC with some of the strongest powers in Canada to protect investors and enforce sanctions. These are the first major revisions to the legislation in almost a decade.

Bill 41 requires the government, among other things, to take all necessary measures to ensure provincial laws are consistent with UNDRIP. The Bill also states that "Nothing in this Act is to be construed as delaying the application of the Declaration to the laws of British Columbia." 

Canadian corporate directors should be aware of Bill C-97 as it articulates meaningful changes to the duties they bear.

On June 17, 2019, Canadian Federal Finance Minister Bill Morneau released draft legislation that will impact on the preferential tax treatment of employee stock options (“Proposals”). The Government initially announced its intention to introduce these measures in the Federal Budget released on March 19, 2019.

The new BC Building and Plumbing Code will be effective December 10, 2018 and will apply to building permits applied for on or after that date. The BC Fire Code is anticipated to be adopted in the fall of 2018 and effective December 10, 2018. Buildings with permits in place under the previous 2012 BC Building Code will generally not be affected by the adoption of the new code.

Non-Americans who are “inadmissible” are not permitted by law to enter or remain in the United States—whether it be as visitors, students or workers.

On February 5, 2018, B.C.'s provincial government announced key policy decisions on the regulation of consumer cannabis in the province.

As the countdown to the legalization of recreational cannabis in Canada begins, provinces and would-be producers alike have been busy speculating on the potential product packaging and labelling parameters under the proposed Cannabis Act regulations.

Medically authorized marijuana is currently legal in Canada and in 2018, it is expected that recreational marijuana will become legal as well. Employers should take a proactive approach in dealing with this changing landscape, and to this end, we have outlined some key action items below.