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OntarioDid Not Pass43rd Parliament, 1st Session

Bill 50 explained in plain English

Building Better Business Outcomes Act, 2023

Ontario legislature bill summary, status, timeline, sponsor, votes, and official sources.

At a glance

Jurisdiction
Ontario Legislature
Legislature / Parliament
Legislative Assembly of Ontario
Session
43rd Parliament, 1st Session
Bill number
Bill 50
Full title
Building Better Business Outcomes Act, 2023
Current status
Did Not Pass
Latest event
Lost on division
Last updated
Mar 1, 2023

Official Legislative Assembly of Ontario snapshot for 43rd Parliament, 1st Session. Representative vote breakdowns appear when the Assembly publishes an Ayes and Nays page for the bill.

Chamber
Legislative Assembly of Ontario
Current Stage
Lost on division
Latest Activity
Mar 1, 2023
Plain-language explanation
In plain English (our explanation)

Our plain-language take, written for civic education.

Source: By PoliticalData.ca

AI-assisted, reviewed before publishing
Short Version

The Building Better Business Outcomes Act, 2022, amends the Securities Act to require publicly traded issuers to adopt and make available written policies for identifying director candidates from specified underrepresented groups.

What It Means

This Ontario bill, called the Building Better Business Outcomes Act, 2022, amends the Securities Act. It requires companies whose shares are publicly traded to create and share a written policy about how they find candidates to nominate for their board of directors. This policy must include a process for identifying candidates who belong to certain underrepresented groups: women, Black, Indigenous or racialized people, people with disabilities, and LGBTQ+ individuals. The law will come into effect three years after it receives Royal Assent.

What This Bill Does
  • Amends the Securities Act.
  • Requires publicly traded issuers to adopt and make public a written policy on the director nomination process.
  • Specifies that the policy must include a process for identifying candidates from groups such as women, Black, Indigenous or racialized people, persons with disabilities, and LGBTQ+ individuals.
  • Sets a commencement date for the Act.
Who Is Affected
  • Issuers whose shares are publicly traded in Ontario.
  • Individuals who are candidates for director nominations.
  • The public, through the availability of these policies.
Rights, Duties, Or Obligations
  • Issuers must adopt a written policy for director nominations.
  • Issuers must make this policy publicly available.
  • The policy must include a process for identifying candidates from specified underrepresented groups (women, Black, Indigenous or racialized people, persons with disabilities, LGBTQ+ individuals).
Important Dates
  • The Act comes into force on the third anniversary of the day it receives Royal Assent.
Uncertainties Or Limits
  • The specific requirements or expectations for what constitutes an adequate "written policy" or a sufficient "process for the identification of candidates" are not detailed in the provided text.
  • The bill does not specify the exact method or platform for making the policy "publicly available."
  • The bill does not define the size or type of "issuer whose shares are publicly traded" beyond that phrasing.
Laws Or Regulations Affected
Securities Act
amends

Adds a new section (121.2.1) requiring certain issuers to have and publish a written policy for nominating directors, including identifying candidates from specified underrepresented groups.

Source: Section 1

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 text

Process Snapshot

Step 1
First reading
Nov 29, 2022
Step 2
Second reading
Mar 1, 2023
Step 3
Committee review
Not reached yet
Step 4
Third reading
Not reached yet
Step 5
Royal assent
Not reached yet

Vote Summary

Yes
35
No
75
Abstain
0
Absent / Other
0
Final recorded vote
Mar 1, 2023
110 representative positions are recorded in this official snapshot for this vote.
Sponsor
Stephanie Bowman
Ontario Liberal Party | Don Valley West
Jurisdiction
Ontario Legislature

Representative Voting Breakdown

Vote badges include text labels so the table stays readable for everyone, even without color cues alone.

RepresentativeRoleRidingPartyVoteNotes
MPPDon Valley WestOntario Liberal PartyYesRecorded without an additional note.
MPPDon Valley EastOntario Liberal PartyYesRecorded without an additional note.
MPPParkdale—High ParkNew Democratic Party of OntarioYesRecorded without an additional note.
MPPWaterlooNew Democratic Party of OntarioYesRecorded without an additional note.
MPPOttawa West—NepeanNew Democratic Party of OntarioYesRecorded without an additional note.
MPPSpadina—Fort YorkNew Democratic Party of OntarioYesRecorded without an additional note.
MPPScarborough SouthwestNew Democratic Party of OntarioYesRecorded without an additional note.
MPPMushkegowuk—James BayNew Democratic Party of OntarioYesRecorded without an additional note.
MPPSudburyNew Democratic Party of OntarioYesRecorded without an additional note.
MPPNiagara CentreNew Democratic Party of OntarioYesRecorded without an additional note.
MPPSt. CatharinesNew Democratic Party of OntarioYesRecorded without an additional note.
MPPOshawaNew Democratic Party of OntarioYesRecorded without an additional note.
MPPUniversity—RosedaleNew Democratic Party of OntarioYesRecorded without an additional note.
MPPToronto—St. Paul'sNew Democratic Party of OntarioYesRecorded without an additional note.
MPPOttawa CentreNew Democratic Party of OntarioYesRecorded without an additional note.
MPPOttawa SouthOntario Liberal PartyYesRecorded without an additional note.
MPPTimiskaming—CochraneNew Democratic Party of OntarioYesRecorded without an additional note.
MPPToronto CentreNew Democratic Party of OntarioYesRecorded without an additional note.
MPPWindsor WestNew Democratic Party of OntarioYesRecorded without an additional note.
MPPThunder Bay—Superior NorthNew Democratic Party of OntarioYesRecorded without an additional note.
MPPDavenportNew Democratic Party of OntarioYesRecorded without an additional note.
MPPBeaches—East YorkOntario Liberal PartyYesRecorded without an additional note.
MPPGuelphGreen Party of OntarioYesRecorded without an additional note.
MPPScarborough—GuildwoodOntario Liberal PartyYesRecorded without an additional note.
MPPHamilton MountainNew Democratic Party of OntarioYesRecorded without an additional note.
MPPLondon WestNew Democratic Party of OntarioYesRecorded without an additional note.
MPPToronto—DanforthNew Democratic Party of OntarioYesRecorded without an additional note.
MPPHamilton West—Ancaster—DundasNew Democratic Party of OntarioYesRecorded without an additional note.
MPPKiiwetinoongNew Democratic Party of OntarioYesRecorded without an additional note.
MPPOrléansOntario Liberal PartyYesRecorded without an additional note.
MPPKingston and the IslandsOntario Liberal PartyYesRecorded without an additional note.
MPPLondon North CentreNew Democratic Party of OntarioYesRecorded without an additional note.
MPPLondon—FanshaweNew Democratic Party of OntarioYesRecorded without an additional note.
MPPHumber River—Black CreekNew Democratic Party of OntarioYesRecorded without an additional note.
MPPNiagara FallsNew Democratic Party of OntarioYesRecorded without an additional note.
MPPBrampton WestProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPWindsor—TecumsehProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPEssexProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPScarborough—AgincourtProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMarkham—UnionvilleProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPCambridgeProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPSimcoe—GreyProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPEtobicoke—LakeshoreProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPRichmond HillProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPPeterborough—KawarthaProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPScarborough CentreProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPNewmarket—AuroraProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMississauga—MaltonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPOakville North—BurlingtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPCarletonIndependentNoRecorded without an additional note.
MPPBrampton EastProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBarrie—InnisfilProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPNorthumberland—Peterborough SouthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPFlamborough—GlanbrookProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBarrie—Springwater—Oro-MedonteProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPEtobicoke NorthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPOxfordProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPTimminsProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBrampton NorthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPParry Sound—MuskokaProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPKenora—Rainy RiverProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPSimcoe NorthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPThunder Bay—AtikokanProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPEtobicoke CentreProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPHaliburton—Kawartha Lakes—BrockProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPVaughan—WoodbridgeProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPAurora—Oak Ridges—Richmond HillProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPYork CentreProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPKitchener—ConestogaProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPHamilton East—Stoney CreekProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMississauga—StreetsvilleProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPStormont—Dundas—South GlengarryProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMarkham—StouffvilleProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPPickering—UxbridgeProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBrampton SouthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPScarborough NorthProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPElgin—Middlesex—LondonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPWillowdaleProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPOakvilleProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPKing—VaughanProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPLeeds—Grenville—Thousand Islands and Rideau LakesProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPDufferin—CaledonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPChatham-Kent—LeamingtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPNipissingProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPScarborough—Rouge ParkProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPKitchener South—HespelerProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPLanark—Frontenac—KingstonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPRenfrew—Nipissing—PembrokeProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMississauga East—CooksvilleIndependentNoRecorded without an additional note.
MPPThornhillProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPNepeanProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMarkham—ThornhillProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPWhitbyProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPPerth—WellingtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPKanata—CarletonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPYork South—WestonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPLambton—Kent—MiddlesexProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBurlingtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMiltonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPHastings—Lennox and AddingtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBruce—Grey—Owen SoundProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPSarnia—LambtonProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPEglinton—LawrenceProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPSault Ste. MarieProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMississauga—LakeshoreProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPMississauga—Erin MillsProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPGlengarry—Prescott—RussellProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPBay of QuinteProgressive Conservative Party of OntarioNoRecorded without an additional note.
MPPDon Valley NorthIndependentNoRecorded without an additional note.
MPPBrantford—BrantProgressive Conservative Party of OntarioNoRecorded without an additional note.

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