The amendments are based upon recommendations that came out of a report, Disclosure Requirements Regarding Women on Boards and in Senior Management,
requested by and submitted to the Minister of Finance and the then Minister Responsible for Women’s Issues, Charles Sousa, last July.
Survey results, included in the report, found that 57 per cent of respondents do not have any female directors, 28 per cent have one female director and 3 per cent have three women directors, indicating an overall low rate of female representation. The survey also found that that the majority of respondents (88 per cent) do not disclose the number of females employed and that most boards (91 per cent) did not have a process for nominating female members. In addition, most respondents (94 per cent) did not have a date established for reaching the target representation of women on boards or in executive positions. There was also no limit on a director's term for the majority of respondents (82 per cent).
All comments must be submitted to firstname.lastname@example.org
by April 16, 2014.
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