BC Government Introduces “Benefit Companies”

June 17, 2020 - Owen Bird

The Government of British Columbia intends to amend the Business Corporations Act (“BCBCA”) to include a new type of company – a benefit company. This amendment is set to take place on June 30, 2020.

A benefit company is a for-profit corporation that dedicates itself to conducting responsible and sustainable business and to promoting a public benefit(s). A public benefit includes any activity that positively impacts a group outside of the corporation’s shareholders. For example, an educational group, the local community, the environment, or a charitable organization. A list of possible ‘public benefit’ activities can be found here.

Benefit…

No Eviction for Eligible Commercial Tenants Unless Landlords Apply for CECRA

June 01, 2020 - Owen Bird

When the Canadian Emergency Commercial Rent Assistance (“CECRA”) Program was first revealed, two issues were highlighted by the public concerning eligibility:

The requirement that the relevant commercial property had been used to secure a mortgage loan; and that commercial tenants were at the whim of their respective landlords to apply for the Program.

The former concern has recently been addressed by the Federal Government by eliminating the requirement for a mortgage to be registered and, as of today, it appears the latter issue has also been remedied.

This morning, the Provincial Finance Minister, Carole James, announced a new emergency order…