Today, I reintroduced Bill S-212, An Act to Modernize the Composition of the Boards of Directors of Certain Corporations, Financial Institutions and Parent Crown Corporations, and in Particular to Ensure the Balanced Representation of Women and Men on those Boards. This Bill essentially calls for a minimum requirement of 40 percent for each gender on boards of directors.
Bill S-212 focuses on balanced representation and flexibility. Not only does the 40 percent requirement apply to both genders, but its application is deferred. Affected corporations will have three years after the law comes into force to give men and women at least 20 percent of the seats on their boards of directors. The 40 percent target must be reached six years following the enforcement of the law. (more…)