The Ontario government has passed a new bill on May 12th, 2020, titled ‘COVID-19 Response and Reforms to Modernize Ontario Act, 2020.’ In simple terms, it gets referred to as ‘Bill 190’. This bill is a response to the unique challenges that businesses are facing due to the Covid-19 pandemic. Companies are losing on critical commercial activities, reduced supply and demand chain, and economic losses. These reforms are not for a short period that aims at just recovering these losses. Instead, the reforms will help the businesses acquire greater profits and overcome the technological and commercial challenges that have been accelerated by the coronavirus. Even though some reforms were added to the bill as temporary, they might be a part of the law for times after Covid-19. 

Bill 190, in simple language, seeks to remove the red tape in Ontario, i.e., the excessive regulation to the formal rules, and allows flexibility to profit the businesses. Notary certification and Corporate meetings are being allowed in the region now. 

New Regulations

A few of the recent amendments and policies for Ontario organizations that are now allowed are:

Allowing – 

• Remote notarization of documents via technological means by a paralegal
• Forms getting remotely notarized by paralegals
• Virtual meetings through an electronic means or telephones
• The director/registrar/minister to specify electronic means to file papers
• Extension of deadlines for firms to hold yearly meetings or calls
• Electronic signatures on official documents instead of hand signatures for official filings
• Submission of documents, article, and application copies as compared to the old rule of original copies

These new modifications intend to reduce human interaction and the obligations of our government services. It helps individuals to get their work done while staying at home and avoiding the virus spread. Many people who stepped out for government work during Covid-19 can now safeguard themselves and their families. Another advantage of these reforms is that people are more dependent on the digital world, which adds to the digital economy and makes things more efficient. Many professionals have come out in support of the recent improvements such as the Law Society of Ontario. They were in support of more virtual interactions and digitalization of official papers from before the Coronavirus pandemic. If you need a Business Lawyer for Brampton to guide you through all the new reforms and adjustments, contact us!

Advantages of the new reforms

The new amendments have various benefits to the new ‘normal’:

• Ontario will get considered more modernized now because it is adapting to the digital world.
• The digital economy might improve due to better online facilities offered to businesses.
• Prevents the spread of coronavirus by reducing human contact and emphasizing virtual communication. 
• If you are a Brampton Business Lawyer and you were scheduled to go to another city for notarization, you no longer have to. You can assist your clients over the digital platform without stepping out of your house. Therefore, the changes help lawyers expand their client base and geographical limits. 
• The lawyer-client relationship is improved and effortless. 
• Decreases the load up on our over-burdened government.
• It reduces citizens’ trips to financial institutions. 
• Allows consultations over videos and will enable paralegals to work in the same manner as lawyers while notarizing.
• The business owners will now have more time to schedule meetings and discussions. 
• The reforms might exist even after Covid-19 ends if they prove to be helpful and sustainable. 

Disadvantages of the new reforms

While new amendments have plenty of advantages, there are also some disadvantages:

• People facing technical issues or lack of online resources might find it difficult to communicate online or use the new developments. 
• Shifting and building online facilities while trying to balance between reliability and accessibility. 
• There are more fraud risks now as everything is online, where private information is getting shared, and the authenticity of the signatures cannot get verified. 
• It will be harder to provide equal high-level services and resources to all the clients while ensuring that everyone’s needs get fulfilled. 
• Service providers and customers will face more technical difficulties and network issues, which might delay their work and result in frustration among the masses. Many people might also not have access to electronic media platforms. 

However, the government and experts believe that the gap between the masses and the disadvantages can get eliminated by education, training, better communication channels, and increasing online security. The US has 43 states with online facilities such as notarization, and Ontario still falls behind. 

 Business Lawyers

While the new reforms have made it easier for the citizens and business owners, it is still hard to get work done sometimes, and you need the assistance of lawyers. Corporate Lawyers help you with partnerships, projects, and legal transactions. They will guide you through the procedure and make sure that you abide by the city’s rules and regulations. 

If a company gets into legal trouble, the lawyers will represent you during court proceedings. They will prepare the legal documents, make the partnership deals, negotiate with other companies on your organization’s behalf, and formulate its position and policies on legal issues. 

Business/Corporate Lawyers can get hired by organizations during specific cases or full-time. But it pays off if you have an expert team of full-time lawyers as they can sustain the company through thick and thin, and when an economic crisis or legal crisis hits, they can assist you. Often, corporate company lawyers are also a part of the strategizing process so that the management and heads can make smarter decisions that can increase the profits. 

Having an experienced lawyer pays off in the end. You get the best legal advice and understanding of where your interest lies. We have a team of lawyers that excel in business law. They understand and address all your grievances and support you. If you need assistance or advice about the legalities, documents, or the procedure, contact our Business Lawyers in Brampton. We assure you of quality services.