Bill S-216 explained in plain English
An Act to provide the means to rationalize the governance of Canadian public corporations
Federal Parliament bill summary, status, timeline, sponsor, votes, and official sources.
At a glance
Official Parliament of Canada snapshot for 42nd Parliament, 1st Session. MP vote breakdowns appear when the House of Commons publishes a recorded division export for that bill. Senate and House stage details include official debate/sitting links when LEGISinfo publishes them.
Our plain-language take, written for civic education.
Source: By PoliticalData.ca
Bill S-216 would limit how long individuals can serve on boards of Canadian public corporations, restrict how many boards one person can sit on at the same time, and set strict rules on what those corporations can pay their directors and officers.
Bill S-216, titled the Canadian Public Corporations Governance Act, proposes rules to change how Canadian public corporations are run. The bill would: **Board Member Limits:** - Prevent any individual from sitting on more than four corporate boards at the same time - Limit how long any individual can serve on the board of a single corporation to a total of 8 years (96 months) - These limits would not apply to founders or large shareholders who own more than 50% of voting shares **Director Pay and Benefits:** - Require that directors be paid only in annual fees and meeting attendance fees (not other types of compensation) - Require each director to invest money in the company's shares equal to three times their annual pay from the company - Prevent giving directors share purchase options or rights - Require companies to list all benefits given to directors in their annual reports to shareholders, including the cash value of each benefit **Officer Pay and Benefits:** - Require the board's compensation committee to set officer salaries so that no officer earns more than 20 times the company's average wage - Limit total officer benefits based on the company's financial performance year-over-year - Prevent officers from cashing in certain benefits for at least three years after receiving them - Cap severance and termination payments at twice an officer's total yearly pay and benefits - Require public disclosure of retirement benefits paid to officers The bill would apply to Canadian companies whose shares are traded on stock exchanges in Canada or elsewhere, including banks, insurance companies, and cooperatives. The bill does not explain which government agency would enforce these rules or how enforcement would work. The bill was not passed and did not proceed further in Parliament.
- This draft was normalized from a partial local-model response and must be reviewed before publication.
Corporations incorporated under this Act that are public corporations (listed on stock exchanges) would be subject to new board composition and compensation rules under the new Canadian Public Corporations Governance Act
Source: Section 2, definition of 'corporation'
Banks governed by this Act that are public corporations would be subject to new board composition and compensation rules
Source: Section 2, definition of 'corporation'
Trust and loan companies governed by this Act that are public corporations would be subject to new board composition and compensation rules
Source: Section 2, definition of 'corporation'
Cooperative credit associations governed by this Act that are public corporations would be subject to new board composition and compensation rules
Source: Section 2, definition of 'corporation'
Insurance companies and fraternal benefit societies incorporated or formed under this Act that are public corporations would be subject to new board composition and compensation rules
Source: Section 2, definition of 'corporation'
Generated using AI from official bill text. Not legal advice. It is written by PoliticalData.ca for civic education, automatically checked and spot-reviewed before publishing.
Official textParliamentary Process
Bill S-216, concerning the governance of Canadian public corporations, completed first reading in the Senate in January 2016 before being dropped from the Order Paper in November 2016.
This record indicates that Bill S-216, an Act to provide the means to rationalize the governance of Canadian public corporations, completed its first reading in the Senate on January 26, 2016. The bill was later dropped from the Senate Order Paper on November 3, 2016. The artifact also lists dates for Second reading debates and mentions a sponsor's speech. Additionally, it references similar bills, S-205 and S-235, introduced in a previous Parliament concerning the governance of Canadian businesses during a financial crisis.
Bill S-216 was introduced for its first reading in the Senate, while other significant procedural matters, including questions of privilege and debate on the Speech from the Throne, were also addressed.
On January 26, 2016, Bill S-216, "An Act to provide the means to rationalize the governance of Canadian public corporations," was introduced in the Senate for its first reading. The Senate also debated other matters, including recent tragedies, questions of privilege concerning committee selection, and the Speech from the Throne.
Bill S-216, aimed at rationalizing the governance of Canadian public corporations, reached the second reading stage in the Senate but was ultimately dropped from the Order Paper and did not proceed further.
This artifact describes the procedural status of Bill S-216, concerning the governance of Canadian public corporations, in the Senate. The bill reached the second reading stage. However, it was later dropped from the Senate Order Paper on November 3, 2016, meaning it did not proceed further. The artifact also notes similar bills (S-205 and S-235) that were introduced in a previous Parliament and reached the second reading stage in the Senate.
During a Senate sitting on March 8, 2016, senators discussed various topics including International Women's Day and economic issues, tabled reports, and debated or adjourned debates on several bills, but no proceedings related to Bill S-216 were recorded as it was marked "Bill not proceeded with."
This document details a Senate sitting on March 8, 2016. The sitting included statements by senators on topics such as International Women's Day, the late Donald Ross "Don" Getty, and liquefied natural gas. Routine proceedings involved tabling of the Main Estimates and committee reports, as well as notices of motions for committee studies on crude oil transport and connected vehicles. Orders of the Day included continued debate on the Speech from the Throne, and adjourned debates on several bills: An Act to amend the Canada Border Services Agency Act, the Boards of Directors Modernization Bill, and the Latin American Heritage Month Bill. A motion regarding Question Period for the following day was adopted. The Senate also heard inquiries on the work of the Inter-Parliamentary Union's Committee on the Human Rights of Parliamentarians and the behavior of the People's Republic of China in the South China Sea. Bill S-216, "An Act to provide the means to rationalize the governance of Canadian public corporations," is listed as "Bill not proceeded with" and no debate or procedural activity related to it appears in this sitting's record.
During a Senate sitting on April 20, 2016, tributes were given, international reports were tabled, debate on Bill S-216 (corporate governance) and Bill S-214 (cruelty-free cosmetics) continued, and a motion to pre-study Bill C-14 (medical assistance in dying) was passed, with the sitting concluding before Bill S-216 could be fully debated.
This artifact is a record of a Senate sitting on April 20, 2016. The sitting included Senators' Statements where tributes were paid to the late Bernard Lamarre, and congratulations were offered to Senator Serge Joyal on his election to the Royal Society of Canada. There were also discussions and reports tabled concerning international parliamentary associations and events. A significant portion of the sitting involved the continuation of debate on two bills: Bill S-216, concerning the governance of Canadian public corporations, and Bill S-214, concerning cruelty-free cosmetics. Additionally, a motion was passed to allow the Senate Legal and Constitutional Affairs Committee to pre-study the subject matter of Bill C-14 (medical assistance in dying) before it arrived from the House of Commons. The sitting also included a discussion about how to proceed with Question Period due to bells ringing for a vote in the other place. Finally, a motion was adopted for the Standing Senate Committee on Official Languages to study challenges related to French-language education in British Columbia. The record indicates that Bill S-216 was at the Second Reading stage and the debate was adjourned, meaning the bill had not yet been fully debated or moved to the next stage.
The sponsor of Bill S-216 presented arguments for rationalizing Canadian public corporations' governance by limiting director terms, board memberships, and executive compensation during the Senate's second reading debate.
This artifact contains the sponsor's speech for Bill S-216, "An Act to provide the means to rationalize the governance of Canadian public corporations," during the Senate's second reading debate. The sponsor, Senator Céline Hervieux-Payette, explained the bill's key provisions: limiting director terms to eight years, restricting board memberships to four corporations simultaneously, and imposing limits on executive and director compensation. She highlighted concerns about corporate governance, citing the 2008 financial crisis and rising executive pay as reasons for the proposed changes. The debate also included discussions on other matters before the Senate, such as tributes to Bernard Lamarre, congratulations to Senator Serge Joyal, commemoration of the Chernobyl disaster, and commentary on the Manitoba election results. The speech regarding Bill S-216 was adjourned and has not been completed. The artifact also includes proceedings related to other bills and matters before the Senate.
During a Senate sitting on June 21, 2016, the debate on Bill S-216 at second reading was continued and subsequently adjourned.
This document is a record of a Senate sitting on June 21, 2016. The sitting included tributes to departing pages, statements on various topics including care for veterans and National Aboriginal Day, the presentation of committee reports, notices of motions, question period with the Minister of Agriculture and Agri-Food, and debates on several bills. Specifically for Bill S-216, the debate at second reading was continued and then adjourned.
Bill S-216, concerning the governance of Canadian public corporations, was not proceeded with in the Senate after reaching the Third Reading stage.
Bill S-216, which aimed to rationalize the governance of Canadian public corporations, did not proceed further in the Senate. It reached the stage of Third Reading but was ultimately removed from the Senate's Order Paper on November 3, 2016. The bill had its first reading on January 26, 2016, and its second reading on March 8 and April 20, 2016. A major speech related to the bill was given on June 21, 2016.
Bill S-216, concerning the governance of Canadian public corporations, has not yet undergone its first reading in the House of Commons and was previously dropped from the Senate's agenda.
This artifact describes the procedural steps for Bill S-216 in the House of Commons, specifically noting that the 'House of Commons First reading' stage has not yet been reached. It also provides historical context, stating that the bill was removed from the Senate's agenda on November 3, 2016, and lists past events in the Senate related to the bill, including first and second readings, and references to similar bills from previous Parliaments. The bill's title indicates it aims to rationalize the governance of Canadian public corporations.
Bill S-216, concerning the governance of Canadian public corporations, did not reach the Second Reading stage in the House of Commons after being dropped from the Senate Order Paper, with related past bills also noted.
This artifact indicates that Bill S-216, an Act to provide the means to rationalize the governance of Canadian public corporations, did not proceed to the Second Reading stage in the House of Commons. The bill was dropped from the Senate Order Paper on November 3, 2016. The artifact also lists the bill's progress in the Senate, including its First Reading on January 26, 2016, and its Second Reading on March 8 and April 20, 2016. A sponsor's speech at the Senate's Second Reading occurred on June 21, 2016. Similar bills, S-205 and S-235, from a previous Parliament are also mentioned, which had similar titles and were at the Second Reading stage in the Senate.
Bill S-216, aiming to rationalize the governance of Canadian public corporations, did not reach the House of Commons committee stage and was dropped from the Senate Order Paper.
This artifact indicates that Bill S-216, concerning the governance of Canadian public corporations, was scheduled for consideration in a House of Commons committee. However, this stage was not reached. The bill was ultimately dropped from the Senate Order Paper on November 3, 2016, and therefore did not proceed further in the legislative process.
Bill S-216, aimed at rationalizing the governance of Canadian public corporations, did not proceed past the report stage in the House of Commons after being dropped from the Senate Order Paper.
The provided artifact indicates that Bill S-216, concerning the governance of Canadian public corporations, reached the 'House of Commons Report stage' but this stage was 'Not reached'. The bill was ultimately 'dropped from the Senate Order Paper' on November 3, 2016. Prior to this, the bill had gone through first and second reading in the Senate, with major speeches delivered.
Bill S-216, concerning the governance of Canadian public corporations, did not proceed past the third reading stage in the House of Commons and was dropped from the Senate Order Paper.
This artifact describes the procedural status of Bill S-216 in the House of Commons. The bill reached the 'Third reading' stage but this stage was 'Not reached'. The bill was ultimately dropped from the Senate Order Paper on November 3, 2016. The provided text also details the bill's progress in the Senate, including first and second readings, and mentions similar bills introduced in a previous Parliament.
Debate and sitting links point to official parliamentary sources when LEGISinfo publishes them. Any plain-language discussion summaries should be generated from those official texts and reviewed before public display.
Vote Summary
This bill is still active. We only show vote counts after the legislature publishes a recorded division.
No published representative vote breakdown
This bill is still moving through the process. When a recorded division is published, representative positions can be listed here.
Official sources
Status, sponsor, votes, and timeline on this page are drawn from these official legislative sources and public records. Each summary above is attributed to its own source.
How this data is sourced