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1.Canada Not-for-profit Corporations Act (CNCA)
a)Status of
CNCA
•Canada Corporations Act (“CCA”)
since 1917
•Enacted on June 23, 2009, in
force October 17, 2011
•Replaced Part II of CCA
•Existing CCA corporations
required to continue under the CNCA within 3 years - i.e., by
October 17, 2014
•Failure will lead to dissolution
of the corporation
•According to Industry Canada,
there are an estimated 17,000 Part II CCA non-profit
corporations.
•As of October 31, 2013, only
2100 or 15% of not-for-profit corporations incorporated under
the CCA had continued under the CNCA
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D.CORPORATE UPDATE