News Releases

News Release - Manitoba

April 10, 2019


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Clearer Processes for Business Registration, Supervision and Ownership: Pedersen

The Manitoba government has introduced legislation that would reduce interprovincial trade barriers while improving business ownership transparency, Growth, Enterprise and Trade Minister Blaine Pedersen announced today.

“These amendments support our commitment to making Manitoba an excellent place to do business, while balancing the need for safeguards to address money laundering, terrorism financing, tax evasion and tax avoidance,” said Pedersen.  

The proposed changes in the business registration, supervision and ownership transparency act include:

  • Amending Manitoba’s business statutes to allow business registration and reporting provisions under the New West Partnership Trade Agreement (NWPTA) and other trade agreements.  This amendment would allow Manitoba to meet its business registration and reporting reconciliation requirements under NWPTA effective Jan. 1, 2020.
  • Amending The Corporations Act to require privately held corporations to track beneficial ownership information and eliminate the use of bearer warrants, to prevent or mitigate money-laundering, terrorism financing, tax evasion and tax avoidance.  This would implement commitments made by all Canadian jurisdictions at the December 2017 federal, provincial and territorial finance ministers’ meeting.
  • Enabling the transfer of registrar functions under The Cooperatives Act to the Companies Office, which would consolidate functions from similar acts in one place.  

These amendments would uphold the Manitoba government’s commitments to federal, provincial and jurisdictional partners, Pedersen noted.

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