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Bill 50, Building Better Business Outcomes Act, 2023

Bowman, Stephanie

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Bill 50 Original (PDF)

EXPLANATORY

NOTE

The

Bill requires issuers whose shares are publicly traded to adopt and make

publicly available a written policy respecting the director nomination process

that provides for the identification of candidates who belong to one or more of

the following groups: women, persons who are Black, Indigenous or racialized,

persons with disabilities and persons who are LGBTQ+.

Bill 50 2022

Act to amend the Securities Act to require certain issuers to adopt and make

publicly available written policies respecting their director nomination

process

His

Majesty, by and with the advice and consent of the Legislative Assembly of the

Province of Ontario, enacts as follows:

The Securities Act is amended by adding the

following section:

Written policies, board diversity

121.2.1 An issuer whose shares

are publicly traded shall adopt and make publicly available a written policy

respecting the director nomination process that provides for the identification

of candidates who belong to one or more of the following groups: women, persons

who are Black, Indigenous or racialized, persons with disabilities and persons

who are LGBTQ+.

Commencement

This Act comes into force on the third anniversary of the day this Act receives

Royal Assent.

Short

title

The

short title of this Act is the Building Better Business Outcomes Act, 2022 .

Date Bill stage Event Outcome Committee

March 1, 2023

Second Reading

Vote

Lost on division

February 28, 2023

Second Reading

Question put

Vote deferred

February 28, 2023

Second Reading

Debated

November 29, 2022

First Reading

Ordered for Second Reading

November 29, 2022

First Reading

Vote

Carried

First Reading

November 29, 2022

Carried

Second Reading

February 28, 2023

Bowman, Stephanie

Don Valley West

Crawford, Stephen

Oakville

Fraser, John

Ottawa South

Kernaghan, Terence

London North Centre

McMahon, Mary-Margaret

Beaches—East York

Schreiner, Mike

Guelph

Question put

March 1, 2023

Lost on division