Bill 27 Receives Royal Assent
On March 22, 2017, Bill 27, the Burden Reduction Act, 2017, received Royal Assent in the Ontario Legislature. Bill 27 is an omnibus bill that creates, amends or repeals at least 44 statutes spanning 17 ministries including the Bulk Sales Act and makes certain minor amendments to both the Business Corporations Act (Ontario) (the “OBCA”) and the Personal Property Security Act (Ontario) (the “PPSA”). Arlene O’Neill, a partner of Gardiner Roberts and of our Business and Corporate Commercial Group is proud to be a member of the Business Law Advisory Council (the Council). The Council has made several recommendations for the reform and modernization of Ontario’s corporate and commercial legislation, including amendments to the OBCA, the PPSA and the repeal of the Bulk Sales Act. Gardiner Roberts LLP would like to commend all members of the Council for their important contributions to this step in the modernization of Ontario’s business laws.
For more information regarding the Burden Reduction Act, 2017, please visit: http://www.ontla.on.ca/web/bills/bills_detail.do?locale=en&BillID=4175.