Ontario Not-for-profit Corporations Act and Bill 85

With a provincial election called for June 12 2014, Bill 85 has “died on the order paper”.  Bill 85 is necessary for the Ontario Not-for-Profit Corporations Act (ONCA) to be proclaimed, it deals with technical amendments necessary to implement the ONCA.

 The Bill will now have to be re-introduced and the process of first reading, followed by second reading, committee review and third reading will have to start over. This may mean the ONCA may not be proclaimed before 2016 and  once ONCA comes into effect existing not-for-profit corporations will have a three-year transition period to amend their incorporation and other documents to bring them into conformity with the Act.

 

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