The House of Commons Standing Committee on Industry, Science and Technology undertook an extensive review of the Canadian Business Corporations Act back in 2010 and recommended consultation on 4 discrete issues, one of which was the rules applicable to incorporation of socially responsible enterprise.

Much of the discussion since has focused on introducing a hybrid corporate vehicle similar to the Community Contribution Company form available in B.C. In a nutshell, these corporations are somewhere in-between a non‑profit and a traditional business corporation. They operate with a community purpose and can have shareholders. They are also subject to an asset lock that is intended to ensure that a majority of the assets are fed back into the community, as opposed to shareholders, upon dissolution.

Continue reading “Considering social enterprise”