www.charitylaw.ca
www.carters.ca
•B.C.’s Bill 23, Finance
Statutes Amendment Act, 2012 took
effect on July 29, 2013, providing for a new type of company
called a “community contribution company” (“CCC”)
•CCCs promote social enterprise,
allowing the for-profit sector to tap into socially focused
investment options
•CCCs must primarily benefit the
community through:
–restrictions on corporate
reorganizations to avoid the circumvention of payout
restrictions;
–an “asset lock” that caps
dividends on company shares to ensure that profits are
retained by the company or directed to the community benefit
•CCCs cannot issue tax receipts,
and are not eligible for NPO status
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