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The Law Society of Manitoba Professional Education and Competence |  |
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eLaw - Business Law Update April 2015
In This Issue | PPSA Registrations Must Be Exact: MBQB | Construction of Bipole III in the N4 Corridor to Continue Without Interruption: MBQB | Legislative Update | National Instrument 45-106 Amendments in Force May 5, 2015 | Recommended Reading | Spring CPD: LSM | Spring Programs: MBA | Upcoming Conferences |
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PPSA Registrations Must Be Exact: MBQB
An irregularity in registration deprives a lessor of ownership rights under Manitoba’s PPSA, according to the court in Bankruptcy of Ramon Presbitero Arnuco, 2015 MBQB 36, regardless of the reasonableness of the search or whether a dual-search approach would have disclosed the registration. The court dismissed a car ownership’s appeal of the trustee’s disallowance of its claim to a leased vehicle which it had registered under the bankrupt lessee’s full name (different from the name shown on his Canadian citizenship documentation) and under the vehicle serial number. The trustee’s search failed to reveal the registration. According to the court, the current Manitoba PPSA “clearly establishes that it was intended to provide a set of rules which obviate the need to determine whether a registration was “seriously misleading”; if the registration does not match the exact specification in the rules, either as to name or to the VIN, then the registration is ipso facto “invalid”. It is irrelevant as to what searches may or may not be reasonable.” (para.32)
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Construction of Bipole III in the N4 Corridor to Continue Without Interruption: MBQB
In Sapotaweyak Cree Nation et al. v. Manitoba et al., 2015 MBQB 35, the court dismissed SCN’s motion for an interim or interlocutory injunction requiring Manitoba Hydro and the Government of Manitoba to stop cutting or clearing within the N4 geographic area and to require them to consult with and to accommodate SCN’s claims concerning the Bipole III corridor. Among other things, the court found that Hydro did not have a duty to consult in the Honour of the Crown separate and distinct from that of Manitoba; that Manitoba’s duty to consult was fulfilled; that in any event SNC had not met the second threshold of establishing irreparable harm; and that the balance of convenience was heavily in favour of continuing the construction of Bipole III without interruption.
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Legislative Update
Federal
Sections 183,192(1),195 and 196(3) of the Sustaining Canada's Economic Recovery Act, S.C. 2010, c. 25, came into force Apr 1, 2015, by Order in Council P.C. 2015-302. The amendments affect the Pension Benefits Standards Act, 1985.
Sections 1804 and 1820(6) of the Jobs and Economic Growth Act, S.C. 2010, c. 12 came into force Apr 1, 2015, by Order in Council P.C. 2015-302. These changes also affect the Pension Benefits Standards Act, 1985.
Economic Action Plan 2014 Act, No. 2, S.C. 2014, c. 39 - Division 20 of Part 4 (ss. 253 to 260) came into force February 5, 2015, by Order in Council P.C. 2015-188, affecting the Public Health Agency of Canada Act.
Canada’s foreign investment review process is changing with the implementation of regulatory changes to the Investment Canada Act announced in March and coming into effect March 25 and April 24, 2015. As summarised in the following articles, the changes affect the thresholds for review, the disclosure requirements, and the timeline for national security review:
Provincial
Sections 2, 4, 5 and 8 of The Consumer Protection Amendment and Business Practices Amendment Act (Motor Vehicle Advertising and Information Disclosure and Other Amendments) were proclaimed in force effective June 1, 2015.
Several more sections of The Insurance Amendment Act, S.M. 2012, c. 29 were proclaimed in force effective March 1, 2015.
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National Instrument 45-106 Amendments in Force May 5, 2015
The Canadian Securities Administrators have given notice of upcoming amendments to National Instrument 45-106 Prospectus and Registration Exemptions relating to the accredited investor and minimum amount investment prospectus exemptions. The amendments, in force May 5, 2015, “will result in significant changes to whom and how issuers sell securities to individual investors,” according to the author of the Aikins’ publication Significant Amendments to National Instrument 45-106 Exemptions Announced.
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Recommended Reading
Targeting the Canadian Consumer - An Important Primer on the Advertising and Marketing Laws in Canada - this Borden Ladner Gervais booklet summarizes Canadian law on advertising, including federal and provincial privacy laws, anti-spam and other internet considerations, intellectual property law, telemarketing, packaging and labelling, and the law on advertising to children.
There’s been plenty of press about the first two penalties issued under Canada’s anti-spam legislation. The first, on March 5, 2015, was a $1 million administrative penalty against Compu-Finder for sending commercial electronic messages without consent (see C$1.1-Million Penalty Issued Under Canada’s Anti-Spam Law, Blakes and CRTC Issues $1.1 Million Penalty for CASL Violation, BLG). The second, announced March 25, 2015, was a $48,000 fine against the online dating site PlentyofFish, for sending electronic messages with a non-compliant unsubscribe mechanism (see CRTC Finds Something Fishy About Dating Site's Unsubscribe Mechanism, Operator Nets $48,000 Fine Under Anti-Spam Law, Stikeman Elliott or PlentyOfFish Hooked by Anti-Spam Legislation, snIP/Its.
Why Use A Manitoba Limited Partnership For Your Deal? and Limited Partnerships: When To Head To Manitoba And When To Stay At Home?– these two articles discuss the unique provisions of the Manitoba Partnership Act which may make using a Manitoba limited partnership desirable.
Seven months after the passing of amendments to National Instrument 58-101, imposing more stringent disclosure requirements concerning female representation on boards, commentators are exploring whether anything has changed: Addressing the gender gap, Inhouse; and Board Diversity Update: Is Female Board Representation On The Rise? – Norton Rose Fulbright.
2015 Federal Budget Predictions – this Moodys Gartner article is the author’s best guess as to the contents of the upcoming Federal budget (Economic Action Plan 2015, to be announced April 21, 2015).
Tax Traps Of Owning U.S. Real Estate – this article succinctly explains the complications inherent in purchasing, renting out, or selling US property.
Securities Law Quarterly - Q1 2015 – this WeirFoulds LLP newsletter contains articles on amendments to the TSX-V, CSA disclosure requirements, women on boards, underwriter due diligence, and tax proposals benefitting the resource sector.
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Spring CPD: LSM
Hot Topics in Real Estate 2015 - Two dates have been set aside for this popular annual program, which will take place from 1:00 to 4:00 pm on May 6 and May 7, 2015 (May 6th Date has Sold Out) in the Law Society classroom. Experienced practitioners, representatives from the WLTO, and a mortgage brokerage will discuss the new condominium legislation, powers of attorney, mortgage issues, municipal subdivisions and more. Register today to reserve your spot.
Lawyers and Governing Boards: Avoiding Common Pitfalls – Presenters Bruce King, Doug Finkbeiner, QC, and Tana Christianson will discuss the risks and responsibilities that come with board directorships and suggest strategies to minimize potential liabilities at this lunch program on June 10, 2015. Register now to attend in person or by tele-presentation.
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Spring Programs: MBA
April and May are bring a buddy months so consider inviting a non-member to one of these Manitoba Bar Association section meetings:
Representatives of the Property Registry will discuss upcoming changes to Manitoba’s land titles system at the April 29, 2015 Real Property Law section program The new Manitoba Property Registry Client Service Improvement Initiative project "Titles Online". It will be in the Pitblado LLP boardroom, from 5:00 to 6:30 pm.
The Elder Law section will be hosting a lunch hour program on Reverse Mortgages on May 12, 2015, in the 2nd floor boardroom, 444 St. Mary Avenue.
The Corporate Counsel section will present the program Off-Duty, Off-Colour: Employee Off-Duty Behaviour & Workplace Ramifications on May 13, 2015, from 12:00 noon to 1:30 pm at MTS Place, 4th floor, 333 Main Street. Speaker Melissa Beaumont will canvass the law surrounding off-duty behaviour and the necessary considerations for employers, in both the unionized and non-unionized contexts.
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Upcoming Conferences
The first Asper conference: INTLaw 2015 will take place April 30, 2015 at the Inn at the Forks. Noted speakers from across Canada will discuss current issues in international business and trade law, intellectual property and internet law. Registrants are invited to attend a free graduate student symposium on April 29, 2015.
Mark your calendars for the Eleventh Annual Pan-Canadian Insolvency and Restructuring Law Conference, which will be held September 10-11, 2015, at the Fairmont Hotel, Winnipeg. Leading insolvency experts (including local lawyers David Jackson, David Kroft and Bruce Taylor) will discuss the latest developments in lease disclaimers, transfers under value, intellectual property realizations, navigating environmental hazards and more. For further details see the conference agenda.
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You are receiving this email in accordance with the Law Society's mandate to uphold and protect the public interest in the delivery of legal services with competence, integrity and independence and to further your opportunities to ensure compliance with the mandatory continuing professional development requirements set out in Law Society Rule 2.81.1(8). |
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www.lawsociety.mb.ca/publications/elaw
The Law Society of Manitoba
219 Kennedy St
Winnipeg MB R3C 1S8
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