Ontario Solicitor Bar Practice Exam 2026 - Free Solicitor Bar Practice Questions and Study Guide

The correct answer highlights a key limitation in the information typically accessible through a corporate search of a closely held corporation under the Canada Business Corporations Act (CBCA). Specifically, a corporate search will provide details about the corporation's name, its registered office, corporate directors, and certain legal filings that are part of the public record. However, the names of shareholders are not part of the public record for closely held corporations.

In the context of corporate governance and transparency, while corporate directors and articles of incorporation are filed with the appropriate government bodies and can be verified through a corporate search, shareholder information is protected. This is particularly true for closely held corporations, where ownership may not be publicly disclosed, allowing for greater privacy for the shareholders. Financial statements may also not be available through a corporate search as they are typically internal documents that are not required to be filed publicly.

Understanding this distinction between public records and private agreements is essential for those engaged in corporate law and practice, particularly when advising clients about the implications of corporate structure and ownership disclosure.