Conclusion

Whether the Province of Manitoba will adopt all or part of the Report in legislation is unknown at this time. Given the fact that legislation exists in a number of other provinces, it is more likely than not that Manitoba will enact its own legislation. What is more uncertain is predicting which, if any, of the additional recommendations made by the Commission will find their way into legislation. The guess here is that most of the recommendations relating to enhanced disclosure will end up being adopted. What is less clear is if any of the specific definitions relating to elements of good faith and fair dealing will make it into the legislation given that the other provinces have left it to the courts to determine in a piecemeal fashion whether certain conduct falls below the statutory standards. Once again regardless of whether the specific definitions of good faith make it to the legislation, by including them in its Report, the Commission may well have pointed to a standard of conduct expected in those circumstances.