- Proclamation of the Ontario Not-For-Profit Corporations Act Delayed Again
- October 13, 2015 | Author: Victoria Prince
- Law Firm: Borden Ladner Gervais LLP - Toronto Office
- After many years of waiting for the proclamation of the Not-for-Profit Corporations Act, 2010 (Ontario) (the “ONCA”), not-for-profit corporations in Ontario have been advised that they will need to wait longer. The Ontario government has announced that they will provide at least 24 months' notice prior to the proclamation of the legislation. While the government has stated that it remains “fully committed to bringing the ONCA into force at the earliest opportunity”, there are at least two things that need to be accomplished before the ONCA can come into force. The Ontario government must pass legislation to deal with technical amendments both to the ONCA and to other statutes and relevant technology needs to be enhanced to enable it to deal with the changes required by the new legislation.
Once the ONCA is in force, most corporations currently governed by the Corporations Act (Ontario) will have three years from the date of proclamation to transition under the new legislation.
The news of delay is disappointing for those not-for-profits in Ontario who had hoped for the clearer and more modern provisions promised by the ONCA.