As of June 13, 2019 private corporations incorporated under the Canada Business Corporations Act (“CBCA”) will be required to keep track of individual shareholders with “significant control.”  The new requirement applies only to private corporations incorporated under the CBCA*, expands the record keeping obligations well beyond the current regime which only requires a CBCA corporation’s minute book to record information of registered shareholders.  The new legislation requires certain information of shareholders, whether registered or beneficial, who have significant control, directly or indirectly, to be kept by the corporation.