Ontario Taking Action to Create a More Supportive Business Climate
Ontario has established a new Business Law Advisory Council that will make recommendations to reform laws that are responsive to changing business priorities and supportive of a prosperous economy.
The advisory council is comprised of professionals who have demonstrated expertise in commercial and corporate law, and have a strong knowledge of the challenges and opportunities faced by businesses in the province. Carol Hansell has been appointed as Chair and E. Patrick Shea as Vice-Chair.
The council will recommend changes to corporate and commercial laws to strengthen Ontario’s competitive advantage in the global economy, solidify Ontario’s position as a jurisdiction of choice for business, encourage innovation and investment, and support a regulatory framework that is responsive and flexible.
Modernizing business laws is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses.The plan is also helping working Ontarians achieve a more secure retirement.
- The chair and vice-chair are appointed for a term of up to three years.
- The members of the Business Law Advisory Council will serve an initial term of up to 18 months, and may be re-appointed to serve up to three years in total.
- The advisory council has been created following recommendations made to the province by the Business Law Agenda Stakeholder Panel, a group comprised of experts in corporate and commercial law which submitted a report to government in June 2015. The report called for a continuous review of Ontario’s corporate and commercial laws, a task which the new advisory council will now assist with.
The province’s recently announced Business Growth Initiative is helping to grow the economy and create jobs by promoting an innovation-based economy, helping small companies scale-up and modernizing regulations for businesses.
March 2, 2016
Ministry of Government and Consumer Services
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