The Canada Not-for-profit Corporations Act ("CNCA") has been in force since October 17, 2011. Corporations governed by the Canada Corporations Act ("CCA") have until October 17, 2014 to continue under CNCA. The transitional provisions of CNCA state that a corporation that does not apply for a certificate of continuance by the deadline may be dissolved.
It therefore is critical that organizations governed by the CCA consider what they need to do to continue under the CNCA and take the necessary steps prior to the deadline. To read about some of the things that organizations should keep in mind in making the transition, read our bulletin "Canada Not-for-profit Corporations Act: October 17, 2014 is only a year away".
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.