www.carters.ca
www.charitylaw.ca
•Duty of Care
–Directors of for-profit corporations are held to an objective
standard of care under the Canada Business Corporations Act
(“CBCA”) and the Ontario Business Corporations Act
(“OBCA”)
–A statutory standard of care is
not provided for charities
incorporated under either the Ontario Corporations Act
or Canada Corporations Act
•Therefore, the duty of care for
directors under those acts remains the common law subjective standard,
i.e., they “need not exhibit in the performance of his duties a
greater degree of skill than may reasonably be expected from a
person of his knowledge and experience”
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