Business Law Reform


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Business Law Reform

To maintain Ontario’s competitive position globally and especially in the North American financial and business sectors, McMillan Binch Mendelsohn is working pro bono to help spearhead a drive to reform the Province’s corporate and commercial laws.

We have submitted a Proposal on Ontario Business Law Reform to the Minister of Consumer and Business Services.

The Minister of Consumer and Business Services is actively looking at business law reform. To ensure that the Government of Ontario does move forward on needed reform, the support of the business community is required.

Register as a supporter and/or comment on reforming business law in Ontario

We have targeted the following areas of law most in need of immediate reform:


		enacting the proposed Uniform Securities Transfer Act (USTA) and concurrently adopting the Hague PRIMA Convention;

		amending Ontario Business Corporations Act (OBCA); and

		amending the Personal Property Security Act (PPSA).

These enactments have been selected for various reasons, including the following:


		they are crucial to Canada’s capital markets;

		they are interlinked; and

		they should command wide support in the financial and business communities.

McMillan Binch Mendelsohn lawyers have recognized the need to make Ontario’s corporate and commercial infrastructure globally “top-tier”. Our lawyers:


		have been writing on these subjects for some time;

		have authored formal submissions;

		have met with various Ministries of the Ontario Government;

		have chaired or participated in the relevant subcommittees of the Ontario Bar Association; and

		have spoken before the Ontario Government’s Standing Committee on Finance and Economic Affairs in its Five-Year Review on the Securities Act.

We are actively enlisting support across the spectrum of Ontario’s financial and business community, including financial institutions, securities intermediaries, inter-listed and other public companies, private companies, leasing and finance companies, corporate counsel and private law firms. Representatives on organizations of various communities of interest are also supporting reform of Ontario’s business laws.

If you wish to discuss this in greater detail, please contact:

Wayne D. Gray, wayne.gray@mcmbm.com, 416.865.7842

Robert M. Scavone, robert.scavone@mcmbm.com, 416.865.7901

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