Similar to the NEC (National Electrical Code) in the United States, this document is a guideline to electrical installations, to assist in preventing electrical fires, electrical shock, electrocution, etc. This base document, although a "guide", can still be treated as law where it is the best available source for electrical "due diligence".
Based on the Canadian Electrical Code, with additions and modifications, this is the primary electrical safety document in the Province of Ontario. Since it is legislated, it truly is considered law, and is enforced by the Electrical Safety Authority and its inspectors.
Among other documents, this one provides guidance and assessments to workplace electrical safety. It is largely harmonized with the American document NFPA 70E, Standard for Electrical Safety in the Workplace.
One of the more simple safety measures is to simply have all hazards correctly labelled, and to pay attention to these warnings. In the workplace it is vital that proper steps such as safety training, lockout/tagout procedures, etc., are implemented.
Sometimes we ignore potential problems, just because things seem to be "working okay". Did you know that extension cords aren't acceptable as replacements for permanent wiring? They are meant for temporary use only, to be put away after each use. Power bars, however, are allowed, as long as they are plugged directly into a wall outlet.
There are many improvements to daily electrical safety, which no home should ignore. GFCI receptacles, AFCI breakers, tamper resistant receptacles, etc.
Some insurance companies have strict requirements as well. Did you know that a new electrical installation, done without taking out a permit through the Electrical Safety Authority, is considered illegal? And, an illegal installation can give your insurance company reason to deny a claim?
Remember, be safe, and keep your peace of mind.