The proclamation period for the Not-for-Profit Corporations Act, 2010 S.O. 2010, c.15 ("ONCA") has been extended. The ONCA received Royal Assent and was adopted in 2010. The Ministry of Government and Consumer Services had previously advised of a possible proclamation in 2020. In September 2020 the Ontario Legislative Assembly passed a resolution extending the proclamation period for the ONCA until December 31, 2021 (Motion 89). Without such a resolution, the ONCA would have been repealed on December 31, 2020. 1
Until the ONCA comes into force, the Corporations Act, R.S.O. 1990, c. C.38 continues to govern not-for-profit corporations incorporated under the laws of Ontario. Once the ONCA is in force, those corporations will have a three-year transition period to make the necessary changes to conform their governing documents to the ONCA.
Our team at Fasken will provide you with updates as they become available. In the meantime, please feel free to contact a member of our team to discuss suitable governance changes before the proclamation of the ONCA.
Footnote
1. Legislation Act, 2006, S.O. 2006, c. 21, 2006 requires the Attorney General to annually table in the Legislature a report listing all unproclaimed Acts that were enacted nine years or more before December 31 of the preceding calendar year and which remain unproclaimed on that date. An Act listed in this report is automatically repealed on December 31 of the calendar year in which the report is tabled unless it comes into force on or before December 31 of that calendar year or if, during that calendar year, the Legislative Assembly adopts a resolution that it not be repealed.
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