Canada Not-For-Profit Corporations Act
February 8, 2012
The new Canada Not-For-Profit Corporations Act was proclaimed in force on October 17, 2011. All federal not-for-profit corporations will incorporate under the new Act, and all existing not-for-profit corporations will have three years to transition to the new legislation or risk being dissolved. The Canada Not-for-Profit Corporations Act is designed to streamline the regulatory burden on Canada’s not-for-profit sector, and to promote modern standards of accountability, transparency and good corporate governance. It is aimed at, among other things, enabling organizations to incorporate faster, improving financial accountability, and clarifying the roles and responsibilities of directors and officers. But what does all of this mean in reality?
If you practice law in this area you won’t want to miss this informative session which will include a comprehensive overview of the new Act and regulations, including specifics regarding:
- The distinction between soliciting and non-soliciting corporations
- Articles and bylaws
- Membership rights and remedies, including new derivative and oppression remedies (and carve-out for tenets of faith of religious corporations)
- Board composition, election, liabilities, and protections
- Audits, public accountants and financial disclosure
Please note the Canada Not-for-Profit Corporations Act does not impact provincially incorporated organizations.
Bruce King, Pitblado LLP
CPD hours: 1
EPPM hours: 0
Price: $40.00 + GST = $42.00