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April 2020 Charity & NFP Law Update Corporate Update Additional Amendments to Ontario Co-Operative Corporations Act in Force As previously reported in the January 2020 Charity & NFP Law Update, Ontario’s Budget Bill 138, Plan to Build Ontario Together Act, 2019, received Royal Assent on December 10, 2019, with certain amendments to the Co-Operative Corporations Act coming into force on assent. Since then, various additional amendments introduced through Bill 138 have now also been brought into force through proclamation. As of April 1, 2020, sections 141, as well as paragraphs 164(1)(f) and 164(2)(f) of the Co-operative Corporations Act, have been repealed. Section 141 previously required co-operatives to file with the Minister both financial statements and copies of auditor’s reports that were required to be sent to cooperatives’ members. Other amendments proclaimed into force on April 1, 2020 include technical amendments related to changing the Minister, as defined under the Act, from the Minister of Finance to the Minister of Government and Consumer Services. In addition to these proclaimed amendments, clauses 164(1)(f) and 164(2)(f) were also repealed on March 9, 2020, pursuant to the coming-into-force requirements of Bill 138. Those clauses required co-operatives to give notice of their intention to dissolve, as authorized by clause 163(a), (b) or (c), by publishing such intention in The Ontario Gazette and in the newspaper. Other amendments proclaimed into force. Read the April 2020 Charity & NFP Law Update Direction and Control: Current Regime and Alternatives
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