Can shareholders of an Ontario corporation inspect the corporate books and records?

Yes. The Ontario Business Corporations Act gives shareholders the right to inspect certain corporate records during normal business hours at no charge. Shareholders are entitled to examine the articles of incorporation and any amendments, the bylaws, any unanimous shareholders' agreements, the shareholder register (to see other shareholders' names and addresses), the register of directors, and the register of officers.

Shareholders are also entitled to receive copies of these documents. If a corporation refuses a shareholder's legitimate inspection request, the shareholder can apply to court for an order compelling access.

The right to inspect does not extend to everything. Financial records, contracts, and board minutes are generally not accessible to shareholders on demand in private corporations unless specifically provided for in a shareholders' agreement or by court order. The scope of inspection rights is one reason a well-drafted shareholders' agreement often includes more extensive information rights — requiring regular financial reporting, annual meetings, and access to management — so minority shareholders are not left in the dark.

If your corporation has been refusing to provide you with basic corporate records, that may form part of a broader oppression or compliance issue. Consulting a lawyer can help determine what you are entitled to and how to obtain it.