On December 10, 2016, the Forfeited Corporate Property Act, 2015 (the “FCPA”) came into force in Ontario. This statute addresses what happens to property that is not distributed by an Ontario corporation prior to its dissolution. It also amends the Business Corporations Act (Ontario) (the “OBCA”) and the Corporations Act (Ontario) (the “OCA”) to include a requirement for corporations to maintain a register of ownership interests in land in Ontario. Corresponding amendments were also made to the Not-for-Profit Corporations Act (Ontario) (the “ONCA”), which has not yet come into force.… Continue Reading
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This blog provides the latest information and insights into Canada's real estate sector. We look at all types of real property – from private office, retail, industrial, hotel, residential and mixed-use properties to large, complex public/private projects, including commercial, hotel and mixed-use developments, resorts, planned communities, sports stadiums and arenas, academic institutions, hospitals, care facilities, power generation facilities and infrastructure projects. Our topics cover acquisitions and dispositions, municipal matters, real property assessment, taxation, infrastructure, leasing, financing and development.