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TGA shelves biosimilar and generic transparency measures
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
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Canada | Publication | December 8, 2023
Starting on January 22, 2024, corporations under the Canada Business Corporations Act (CBCA) that are required to maintain a register of individuals with significant control (ISCs) will have to file that information with the director under the CBCA. Information on ISCs will have to be filed (1) annually, (2) within 15 days after recording a change to the register and (3) following any incorporation, amalgamation or continuance under the CBCA.
Corporations Canada has advised that the annual filing of the ISC information must be made at the same time as the filing of a corporation’s annual return. Annual returns must be filed within 60 days of a corporation’s anniversary date (the date on which the corporation was incorporated or otherwise came into existence under the CBCA) not its year end.
The director will not be required to make information about an ISC public immediately, but that will change once pending amendments to the CBCA are proclaimed in force. Law enforcement agencies and the Financial Transactions and Reports Analysis Centre of Canada will have access to information on ISCs filed with the director.
The information that must be filed with the director starting on January 22, 2024, is set out here.
Information that may be made public | Information that will not be made public |
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For further information on ISC registers see our previous client legal update here.
Publication
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
Publication
The Government of Ontario recently introduced the Strengthening Cyber Security and Building Trust in the Public Sector Act, 2024 (Bill 194) seeking to strengthen cybersecurity programs in the public sector and provide the groundwork for the responsible use of artificial intelligence (AI) among various public sector entities.
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