Bill 68 – An Act to promote Ontario as open for business by amending or repealing certain Acts (the “Open for Business Act”)  received Royal Assent on October 25, 2010. It is an omnibus Act which contains more than 100 amendments to existing legislation spread out across 10 ministries. The Open for Business Act was an Ontario initiative to streamline government-to-business services and to encourage a competitive business environment for Ontario businesses.  The government drafted the legislation with an eye to modernize government regulatory oversight, improve government service delivery and create new and transparent relationships between business and government. To develop the legislation, the Ontario government used other jurisdictions as models of government efficiency and transparency and engaged in consultations with business and industry stakeholders.

The Open for Business Act’s provisions come into force on various dates, depending on the specific Act or Regulation being amended. Attached as Schedule “A” is a copy of the Explanatory Note which accompanies the Open for Business Act as a “reader’s aid” and which provides a brief summary of amendments to the various pieces of legislation.

As it is impossible to review each of the Acts and Regulations being amended, we have focused on the major amendments to the following five (5) Acts which we believe to be of particular interest to solicitors: the Construction Lien Act, the Execution Act, the Creditors’ Relief Act, the Environmental Protection Act and the Personal Property Security Act. We believe that this review will be of particular interest to practitioners who operate in the areas of financial services and real estate.

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