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Ontario Government Considers Changes
to
Arthur Wishart Act (Franchise Disclosure), 2000
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The Ontario government is seeking feedback on recommendations for amendments to the Arthur Wishart Act (Franchise Disclosure), 2000.
Earlier this year, the Ministry of Government and Consumer Services (MGCS) established a Business Law Advisory Council, comprised of professionals who have demonstrated expertise in commercial and corporate law, to develop recommendations for reforming Ontario's corporate and commercial statutes in response to changing business priorities and to support a prosperous economy. The MGCS has posted the Business Law Advisory Council's Fall 2016 Report (available here) to solicit input and feedback from the broader business and legal communities, and the public. The report recommends amendments to the following acts:
- Arthur Wishart Act (Franchise Disclosure), 2000
- Business Corporations Act, 1990
- Personal Property and Security Act, 1990
CFA is currently reviewing the report and will make its submission after careful analysis. Some of the Business Law Advisory Council's recommendations for the Arthur Wishart Act (Franchise Disclosure), 2000 include:
- Changes to definitions in the act
- Changes to financial statement disclosure requirements
- Changes to several exemptions
- Changes to statement of material change
While CFA does not proactively advocate for franchise legislation, we are committed to working with government as they develop and introduce legislation. Opportunities to influence amendments to enacted legislation are rare, and CFA is making it a priority to ensure government officials are aware of the concerns and priorities of CFA members.
As we consult with the MGSC on amendments to the Arthur Wishart Act (Franchise Disclosure), 2000, we will advocate for a uniform approach to franchise legislation across the country, balanced with best practices. Our formal submission will be based on the work of the CFA Legislation and Regulations Review Subcommittee, which reviewed and analyzed the Uniform Law Conference of Canada's (ULCC) Uniform Model Franchises Act & Regulations (UFA) to develop best practices, balanced with a uniform approach to franchise legislation across the country. A copy of CFA's ULCC Uniform Model Franchises Act analysis report is available in the CFA Advocacy Headquarters. (Please note that this document is confidential and only for CFA members and governments.)
If you would like to submit your own comments and feedback in response to the Business Law Advisory Council's Fall 2016 Report, please note that submissions are due by December 12, 2016 and should be e-mailed to businesslawpolicy@ontario.ca with "Business Law Report" in the subject line.
For more information about CFA's Advocacy work, please contact Samantha Sheppard, Government Relations Specialist, at ssheppard@cfa.ca or call 416-695-2896 ext. 230. |
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