After having waited three years since the demise of Bill 85 in May 2014 proposing amendments to the ONCA, it is great news that the Ontario government is again moving forward with the corporate reform for the not-for-profit sector. In this regard, Bill 154, Cutting Unnecessary Red Tape Act, 2017 (“Bill 154”), was introduced on September 14, 2017, proposing changes to the Ontario Corporations Act (“OCA”) and the ONCA, as well as other legislation. The Backgrounder to Bill 154 indicates that the proposed amendments would “enable the future proclamation” of the ONCA and the proposed amendments to the OCA would “enable Ontario not-for-profit corporations to benefit from some of the ONCA features prior to its proclamation, such as allowing notice of members’ meetings to be sent electronically and members’ meetings to be held electronically.” As well, these proposed amendments would “increase flexibility, encourage participation in meetings, provide clarity and reduce burdens and costs for not-for-profit corporations.” This Bulletin highlights key proposed amendments to the OCA, but a detailed review of the proposed changes is outside the scope of this Bulletin. It should be noted that this Bulletin does not review proposed amendments to other statutes contained in Bill 154.
For the balance of this Bulletin, please see Charity & NFP Law Bulletin No. 406.