skip to main content

Back to all publications
Nov 9, 2015

Ontario ULCs - Proposal for bringing ULCs to Ontario

By Jeffrey K. Merk, Andrew Magnus and Martin Kovnats

*This article appeared in the October 2015 issue of Corporate Financing, vol. XX, no. 2, and was written by Martin Kovnats, Jeffrey Merk and Andrew Magnus.

For more than two decades, the unlimited liability company (a “ULC”) has become a popular corporate vehicle for facilitating cross-border operations and investments into Canada, especially from the United States (the “US”). Currently, the corporate statutes of only three Canadian provinces, Nova Scotia, Alberta and British Columbia, allow for the incorporation of ULCs. In recent years there has been significant discussion in Ontario about reforming Ontario’s business corporations statute, the Business Corporations Act (Ontario) (the “OBCA”), to allow for, among other things, the incorporation of ULCs. In February 2015, the Minister of Government and Consumer Services for Ontario asked a panel of business law experts to provide the Ontario government with a list of recommendations aimed at making Ontario a more attractive choice for operations and investment. One recommendation from this panel was to revised the OBCA to permit the incorporation of ULCs.

To read the rest of the article, please click below.

Areas of Expertise

Related Publications

Publications Article
New Ontario Rule Permits Payments to Charity Directors By Jeremy D. Burke Apr 17, 2018 On April 1, 2018, Ontario Regulation 112/18 came into effect amending O. Reg 4/01 (Approved Acts of Executors and Trustees) under the Charities Accounting Act. The Amendment modifies the existing Ontario common law rule that prohibits a charitable corporation from compensating a director (or any ...
Publications Article
Important Changes to the Municipal Elections Act, 1996 By Jody E. Johnson Apr 13, 2018 All across Ontario, municipal elections are just over six months away. On April 1, the most recent amendments that will impact the Municipal Elections Act, 1996 came into force. There are a lot of changes to the rules for this election, but this article discusses some of the most important ones t...
Publications Article
Recent Human Rights Tribunal Decision: Record Damage Award By Meghan A. Cowan Apr 10, 2018 The Human Rights Tribunal of Ontario (the “HRTO”) recently awarded one of its highest damage awards to date. In A.B. v. Joe Singer Shoes Limited, the HRTO awarded $200,000 (plus pre-judgment interest dating back to 2008) to a former retail worker who alleged that she was sexually...