www.carters.ca
www.charitylaw.ca
•Unlike the
CNCA
–Optional transition process for
corporations to file articles of amendments
or adopt new by-laws to comply with
ONCA requirements within 3 years of ONCA in
force
–If no transition process taken,
then
§Corporation will not be dissolved
§LP, SLPs and by-laws will be deemed amended to comply with new ONCA requirements, resulting in non-compliant provisions deemed invalid
§Will result in uncertainty in relation to
which provisions remain to be valid
–Better to do transition process in order to avoid confusion in interpreting by-law provisions
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