By Theresa L.M. Man

After more than a decade-long wait, the much-anticipated Ontario Not-for-Profit Corporations Act, 2010 (“ONCA”) will be proclaimed into force on October 19, 2021. With its looming proclamation date just around the corner, not-for-profit corporations incorporated under Part III of the Ontario Corporations Act (“OCA”) will need to familiarize themselves with how the ONCA will change their future corporate structure and governance and how they will need to transition under the ONCA, including amending constating documents to conform with ONCA requirements.

This Charity & NFP Law Bulletin provides a brief outline of the transition process and considerations for Part III OCA corporations to take into account before transitioning to the ONCA. This brief overview of the ONCA transition process is intended to help Ontario corporations transition as smoothly as possible. As a result of the sweeping changes that the ONCA will bring about, it will be important for boards, executives, staff, and legal counsel of corporations in Ontario to become familiar with the provisions of the ONCA in planning for the transition under the ONCA after its proclamation.

For the balance of this Bulletin, please see Charity & NFP Law Bulletin No. 501.

Read the September 2021 Charity & NFP Law Update