Kenny Leung to present on the Ontario Not-for-Profit Corporations Act
January 19, 2022
The Ministry of Government and Consumer Services announced on October 19, 2021 that the Not-for-Profit Corporations Act, 2010 (“ONCA”) has now come into force. The ONCA modernizes and streamlines the regulatory framework that applies to not-for-profit corporations and registered charities that were governed by Part III of the Ontario Corporations Act (the “Corporations”) by enhancing corporate governance, transparency and accountability, increasing director and officer protection and enhancing rights for its members.
Corporations now governed under the ONCA should review and amend their governing documents before October 19, 2024 (the 3-year transition period granted by the ONCA) and take the necessary steps required to be in compliance. This could include amending a Corporation’s letters patent and by-laws.
If you would like to learn more about the ONCA and how it may affect your corporation, please join us tomorrow, Thursday, January 20th, 2022 between 11:00 a.m. – 12:00 p.m. Meeting details are as follows:
https://us06web.zoom.us/webinar/register/WN_GSwM6DiPSymCtCMF-pRb1w [link no longer available].