On February 13, 2017, Corporations Canada released a notice advising that all federal corporations created under Part II of the Canada Corporations Act (“CCA”) need to have completed their transition to the Canada Not-for-profit Corporations Act (“CNCA”) and have received their certificate of continuance by July 31, 2017. Notwithstanding the original deadline of October 17, 2014, for CCA Part II corporations to continue under CNCA, there are still a number of federal not-for-profit corporations that have not done so yet. By now, all these corporations would have received notices of pending dissolution from Corporations Canada. If the transition is not completed by the deadline date on July 31, 2017, the corporation – including those that are registered charities – will be dissolved. In the case of registered charities, dissolution could lead to the revocation of their registration as a charity. Once all Part II CCA corporations have either continued or been dissolved, Part II of the CCA will be repealed.
It is important to note that the July 31, 2017 deadline requires all these remaining corporations complete their continuance by receiving the certificate of continuance by that date. This in turn means that they must file the articles of continuance well in advance of this date. See Corporations Canada’s Transition Guide on how to complete the transition process or call Corporations Canada at 1-866-333-5556.