The Ontario government has updated its website to state that it will give at least 24 months' notice before proclamation of the Not-for-Profit Corporations Act, 2010 ("ONCA"). The Frequently-Asked Questions page states:
"ONCA cannot come into force until:
- the Legislative Assembly passes a number of technical amendments to the legislation and related acts
- technology is upgraded to support these changes and improve service delivery
A bill containing these amendments, formerly known as Bill 85, was introduced in 2013 but died when the 2014 provincial election was called.
The government is fully committed to bringing ONCA into force at the earliest opportunity and will provide the sector with at least 24 months' notice before proclamation. Existing corporations will have a three-year transition period once ONCA is in force and assistance will be available to ensure a smooth transition to implementation."
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.
