Today, the Government of Ontario passed legislative amendments in the COVID-19 Response and Reforms to Modernize Ontario Act, 2020 that will provide relief and flexibility to different types of corporations and businesses in Ontario, as a result of the declared emergency.
These legislative amendments will enable Ontario businesses and corporations to call and hold virtual meetings, defer annual meetings in some circumstances, utilize electronic signatures, and file documents electronically. It will also allow the use of electronic chattels under the PPSA. The OBA has advocated for the Ontario Government to make many of these changes as in response to the challenges presented by COVID-19 and as part of our ongoing business modernization efforts.