The Ontario and Federal governments have recently established a Corporate Law Reform Commission (the "CLRC"). The mandate of the CLRC is to evaluate whether amendments to corporate law are necessary. The CLRC is considering amending the Ontario Business Corporations Act and Canada Business Corporations Act to specify that the duty of care of directors and officers is solely owed to the shareholders of a corporation and not any other stakeholders such as but not limited to consumers, employees, and the environment. The CLRC believes such reform is required to further encourage business investment and enhance certainty and clarity in the obligations of directors and officers. Please memo to the CLRC discussing either why you (a) support or (b) do not support such a proposal.