The current statutory regime governing not-for-profit corporations in
Ontario requires updating. The original version of the statute, the
Corporations Act (CA), was created in 1907 and was last substantially
revised in 1953. Since that time, there have been no significant
revisions to the CA. Concerns have been raised that the CA is
antiquated, cumbersome and does not statutorily meet the requirements
of the modern not-for-profit sector. At present, there are over 50,000
not-for-profit corporations active in Ontario under the CA.
The objective of the reform is to respond to the realities of the
not-for-profit sector in the 21st century by creating a new stronger
legal framework for members of not-for-profit corporations, those who
utilize not-for-profit services and contributors to charitable
initiatives.
To find out more about the Modernization of the Ontario Corporations
Act, join us for a tele-learning session on Wednesday, September 17th
at noon. Come hear Lynn Eakin from the Ontario Nonprofit Network and
share your opinions with many other participants across the province.
We recommend that you confirm your attendance soon, as space is limited.
