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December 8, 2020
Tabling of the bill to improve the transparency of enterprises

Further to the public consultation held in fall 2019 and the measures announced in the 2020-2021 budget last March, Bill 78: An Act mainly to improve the transparency of enterprises was presented today in the Québec National Assembly by Mr. Jean Boulet, Minister of Labour, Employment and Social Solidarity and Minister Responsible for the Mauricie region.

The main measures of the bill are:

  • the obligation for enterprises to disclose information on ultimate beneficiaries to the Registraire des entreprises du Québec; this information will be made public;
  • allowing the search by name of a natural person to find out the enterprises in which this person is involved.

Therefore, meeting its commitment to strengthen corporate transparency, the proposed amendments proposed by this bill to the Act respecting the legal publicity of enterprises will improve protection of the public and help fight tax havens, tax evasion, abusive tax avoidance and money laundering. It also establishes measures protecting personal information and privacy.

With this bill, resulting from important work with partners such as the Ministère des Finances, Québec remains in the vanguard and confirms its role as a leader regarding business registers, both in Canada and around the world.

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