...

Important Changes for Ontario Business Corporations Take Effect on July 5, 2021

Effective Monday, July 5, 2021 corporations governed by the Business Corporations Act (Ontario) (“OBCA”) will no longer be required to have any Canadian resident directors and non-public OBCA corporations will no longer be required to have all shareholders sign written resolutions to effectively approve ordinary resolutions, it will be sufficient if the resolutions are signed by holders of at least a majority of the voting shares.