Directors’ and Officers’ Duties and Liabilities Under the CNCA and the ONCA

www.carters.ca

www.charitylaw.ca

E.FIDUCIARY DUTIES FOR CHARITABLE PROPERTY

•Common law in Ontario has held that, with regard to charitable property, directors of charitable corporations are subject to high order fiduciary obligations similar to those of trustees

•This is in part a function of the Charities Accounting Act (“CAA”) in ss 2(1), which identifies what corporations are deemed to be a trustee within the meaning of the CAA and that property acquired by such corporations is deemed charitable property

•Both the CNCA and the ONCA are consistent in this regard

•