Legislation increases director flexibility, clarifies legal obligations

By Anita Anand ( August 15, 2019, 10:52 AM EDT) -- The recently passed Bill C-97 articulates meaningful changes to directors’ duties in Canada. By amending the Canada Business Corporations Act (CBCA), this legislation broadens the class of stakeholders to whom directors must turn their minds when stewarding a corporation. Bill C-97 codifies past judicial treatment of this issue and adds new contours to directors’ legal obligations. Understanding these developments is of vital importance for boards of directors in discharging their legal duties....
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