C-42An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts
Government bill, introduced in the House of Commons on March 22, 2023
- Status
- Became law on November 2, 2023 · S.C. 2023, c. 29
What it does
Requires more public disclosure about corporate controllers, while protecting some personal information and expanding enforcement under the Canada Business Corporations Act.
What it does
- Requires the Director under the Canada Business Corporations Act to make certain information about individuals with significant control over a corporation public.
- Protects the information and identity of certain individuals.
- Adds or broadens offences, and gives the Director more enforcement and compliance powers.
- Gives power to make regulations setting further requirements for some provisions.
- Makes consequential and related amendments to other Acts.
Who it affects
- Federal business corporations
- Individuals with significant control
- The Director under the Act
- Corporate regulators
Background
The bill amends the Canada Business Corporations Act and makes related changes to other Acts.
Where it is
House of Commons
First reading
Completed.
Second reading
Completed.
Committee
Completed.
Report stage
Completed.
Third reading
Completed.
Senate
First reading
Completed.
Second reading
Completed.
Committee
Completed.
Third reading
Completed.
Royal assent
Royal assent
Completed.
Introduced by a cabinet minister on behalf of the government. Government bills get set time for debate, so they are the most likely to become law. How a bill becomes law
How the House voted
3rd reading and adoption of Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts
Vote 407,
Passed
321 yeato0 nay · 2 paired
Party breakdown for vote 407 Party Position Yea Nay Did not vote Liberal Yea 150 0 6 Conservative Yea 112 0 3 Bloc Yea 31 0 1 NDP Yea 23 0 2 Green Yea 2 0 0 Independent Yea 3 0 0 Total 321 0 Concurrence at report stage of Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts
Vote 392,
Passed
319 yeato1 nay · 4 paired
Party breakdown for vote 392 Party Position Yea Nay Did not vote Liberal Yea 149 0 7 Conservative Yea 113 0 2 Bloc Yea 30 0 2 NDP Yea 23 0 2 Green Yea 2 0 0 Independent Yea1 broke ranks 2 1 0 Total 319 1 Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts (report stage amendment)
Vote 391,
Failed
113 yeato207 nay · 4 paired
Party breakdown for vote 391 Party Position Yea Nay Did not vote Liberal Nay 0 149 7 Conservative Yea 113 0 2 Bloc Nay 0 30 2 NDP Nay 0 23 2 Green Nay 0 2 0 Independent Nay 0 3 0 Total 113 207 Time allocation for Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts
Vote 384,
Passed
174 yeato142 nay · 6 paired
Party breakdown for vote 384 Party Position Yea Nay Did not vote Liberal Yea 150 0 6 Conservative Nay 0 109 6 Bloc Nay 0 29 3 NDP Yea 23 0 2 Green Nay 0 2 0 Independent Nay1 broke ranks 1 2 0 Total 174 142 2nd reading of Bill C-42, An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts
Vote 343,
Passed
317 yeato0 nay · 2 paired
Party breakdown for vote 343 Party Position Yea Nay Did not vote Liberal Yea 149 0 7 Conservative Yea 113 0 2 Bloc Yea 29 0 3 NDP Yea 22 0 3 Green Yea 2 0 0 Independent Yea 2 0 1 Total 317 0
What MPs said
Each party’s first speech on this bill in the House, from Hansard. Excerpts are the speaker’s opening sentences, unedited.
LiberalFrançois-Philippe Champagne· March 31, 2023
“I am pleased to be here this morning to talk about Bill C-42, which is a very important bill. I am pleased to have the opportunity to speak to Canadians about the important role Bill C-42 will play in combatting money laundering and bringing greater transparency to corporate Canada.”
Read the full speech on openparliament.caConservativeBrad Vis· March 31, 2023
“I thank the minister for tabling this bill today. We are here today to debate Bill C-42, an act to amend the Canada Business Corporations Act and to make consequential and related amendments to other acts.”
Read the full speech on openparliament.caBlocGabriel Ste-Marie· March 31, 2023
“That is essentially what Bill C-42 addresses. It amends the Canada Business Corporations Act to force the directors of federally incorporated businesses to report their real owners to Corporations Canada.”
Read the full speech on openparliament.caNDPDaniel Blaikie· April 28, 2023
“I am happy to rise today and speak to Bill C-42. There is a lot of talk in this place about government gatekeepers, and rightly so.”
Read the full speech on openparliament.ca
Read the source
LEGISinfo status: Royal assent received. Bill data from LEGISinfo, votes from openparliament.ca and the House of Commons. Last updated October 13, 2026.