www.carters.ca
www.charitylaw.ca
–Implications of
being a soliciting corporation
§Must have a
minimum of 3 directors, at least 2 of whom are
not officers or employees of the corporation
or its affiliates
§Required to file
annual financial statements with the
Industry Canada
§Audit and public
accountant rules more stringent (see later
in presentation)
§On liquidation, the
articles must provide for the distribution
of any remaining property on dissolution
to qualified donees (e.g. registered charities,
governments in Canada, the United Nations
etc.)
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