Category: Practice Areas

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New Fisheries Act Regulation Anticipates Streamlining With Provincial Approvals‎

May 8, 2014

  On April 10, 2014, the federal cabinet granted the Minister of Fisheries and Oceans the power to issue regulations allowing certain deposits of deleterious substances, provided they are authorized under other federal or provincial laws or guidelines. This may turn out to be one of the most significant actions arising from changes made to the Fisheries Act in 2012.   The Fisheries…

Court of Appeal Protects Professionals by Invigorating Rule Allowing Pleadings to Be Struck

May 7, 2014

  On April 29, 2014, the Alberta Court of Appeal released an important decision in the case of O’Connor Associates Environmental Inc. v. MEC OP LLC.   An appeal was brought by O’Connor Associates Environmental Inc. (O’Connor) and Niven Fischer Energy Services Inc. (Niven) (collectively the Third Parties) who had been third-partied into the litigation by the defendants, MEC OP LLC,…

Augusta’s Rights Plan – A Hard Pill for Hudbay to Swallow

May 6, 2014

  On May 2, 2014, the British Columbia Securities Commission (BCSC) issued an oral decision declining to immediately cease trade the shareholder rights plan (also known as a “poison pill”) of Augusta Resource Corporation (Augusta) and allowing it to remain in place until July 15, 2014, which will be an unusually long 156 days from the announcement of the hostile…

CSA’s Light Touch Proxy Advisory Firm Proposal May Disappoint Issuers

May 6, 2014

To address market participants’ concerns about services provided by proxy advisory firms, the Canadian Securities Administrators (CSA) have published for comment proposed National Policy 25-201 Guidance for Proxy Advisory Firms (Proposed Policy). The purpose of the Proposed Policy is to set out recommended practices for proxy advisory firms in relation to the services they provide to their clients and their activities.   In…

Ontario Government’s 2014 Budget Provisions Affecting Pensions

May 2, 2014

  In its 2014 budget, the Ontario government has announced a number of key pensions-related matters, which include: the introduction of a provincial Ontario Registered Pension Plan (ORPP) that supplements the Canada Pension Plan (CPP); a legislative framework for Pooled Registered Pension Plans (PRPPs); consultation on target benefit plans; reforms for defined benefit (DB) pension plans with respect to funding…

Haven’t You Heard? It’s All Being Changed – New Proposals to Private Placement Regime

April 30, 2014

  While recent proposals to add new prospectus exemptions for things like crowdfunding and rights offerings have received much attention, other changes have also been concurrently proposed that would have an impact on the existing exempt distribution regime – so-called “private placements.”   The Canadian regulators have been examining the entire concept of exempt distributions and have arrived at somewhat…

Québec Court of Appeal Reiterates Principles Applicable to Notices of Termination

April 30, 2014

  In its recent decision in Allstate du Canada c. Daunais, the Court of Appeal of Québec overturned a judgment of the Superior Court of Québec and confirmed the exceptional nature of awarding 24 months’ notice of termination and the obligation of employees to mitigate damages resulting from termination of employment.   In this case, the employee, who was 52 years…

Federal Court of Appeal Confirms Limited Scope of Foreign Affiliate Anti-Avoidance Rule

April 30, 2014

  OVERVIEW   The Federal Court of Appeal (FCA) released its decision in Canada v. Lehigh Cement Limited (Lehigh Cement) on April 23, 2014. The decision concerned the application of paragraph 95(6)(b) of the Income Tax Act (Canada) (Act), an anti-avoidance provision that targets the manipulation of share ownership in a non-resident corporation in order to obtain favourable tax results. The FCA upheld the…

Ontario Government Proposes Regulations to Expand DC Payment Options and Increase Disclosure

April 29, 2014

  The Ontario government has recently announced several proposed regulations that will affect the administration of Ontario-registered pension plans. These regulations will enable variable benefit accounts to be offered under Ontario-registered defined contribution plans, establish new filing requirements for SIPPs and set out the requirements for statements for former and retired members.     VARIABLE BENEFIT ACCOUNTS FOR DC PENSION…

Two New Bills Bring More Changes to Alberta’s Pension Legislation

April 28, 2014

  On April 16, 2014, the Alberta government introduced two bills making amendments to both its new private-sector and existing public-sector pension legislation. These bills constitute the next steps in ongoing processes to reform pensions in Alberta. Bill 10, the Employment Pension (Private Sector) Plans Amendment Act, 2014 (EPP Amendment Act), makes numerous changes to Alberta’s new Employment Pension Plans Act (New Act)….

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