4.Drafting New By-laws
By-laws will
need to be replaced or substantially revised
because the old and new rules are very different
Minimalist approach by-laws
Rationale: CNCA & ONCA and regulations contains detailed rules, so by-laws not to duplicate mandatory rules or default rules that are not to be overridden
Comprehensive approach by-laws
One stop approach -
consolidation of all applicable rules
No need to flip back and forth
between articles, but limited provisions in
the articles
Can have governance policy
manuals to address other matters, e.g.,
committee structures (but not audit
committee)