The Business Corporations Act of New Brunswick: Observations From A Management Perspective

Abstract

New Brunswick has followed the lead of other Canadian jurisdictions by adopting a business corporations statute that simplifies the routine administration of corporate affairs while enlarging management accountability to shareholders and creditors. The author examines the new Business Corporations Act concentrating on the impact of the new proxnsions on directors, officers and controlling shareholders and highlighting the factors to be considered in the transition period during which letters patent companies may choose between remaining under the old legislation and continuing under the new.