Nov 2017 Charity & NFP Law Update
Following the introduction of Bill 154 on September 14, 2017, proposing changes to the OCA, the ONCA, as well as other legislation, Bill 154 was passed by the Ontario Legislature at an amazing speed on November 1, 2017, and received Royal Assent on November 14, 2017. Notwithstanding the introduction of Bill 154 amending the ONCA, it is still not known when the ONCA will be proclaimed. Since the Ontario Government continues its commitment to give the not-for-profit sector at least 24 months’ notice before the ONCA comes into force, the earliest that the ONCA might be proclaimed will be at least 2 years from now. As such, amendments to the OCA contained in Bill 154 are of immediate interest to Ontario Part III OCA not-for-profit corporations because the changes would allow them to enjoy some of the modernized rules contained in the ONCA and would provide more flexibility to their operations. In this regard, upon Royal Assent of Bill 154, a number of the changes to the OCA contained in schedule 7 became effective immediately, and other changes will become effective 60 days later (i.e., January 13, 2018). These changes are reviewed in this Bulletin.
For the balance of this Bulletin, please see Charity & NFP Law Bulletin No. 412.