When will the new Canada Not-for-profit Corporations Act come into force and we can start using it?
Posted under New corporate non-profit acts
The New Canada Not-for-profit Corporations Act while passed has not come into force yet. The experts best guess (see Wayne Gray below) is early 2011 for it coming into force.
“The sector’s plea for a modern NFP corporate statute has finally been answered. On June 23, 2009, Bill C-4, the Canada Not-for-profit Corporations Act (interchangeably, “New Act” or the “CNCA”), received Royal Assent. The unofficial best estimate as to when the New Act will come into force is early 2011. The coming into force of the New Act should be welcome news for the more than 17,000 federal NFP corporations that will soon be able to continue to the New Act and the many more provincial/territorial NFP corporations that will have the option of moving to the New Act under its voluntary continuance provisions.” from a paper entitled Insight on C-4, the New Canada Not-for-profit Corporations Act By: Wayne Gray, Partner, McMillan LLP, Toronto. http://www.mcmillan.ca/waynegray