As some people know October 17, 2014 is the deadline set for Canada Corporations Act (CCA) non-profit corporations to move over to the new CNCA or face potential dissolution. It will be 3 years from the date the CNCA came into force. Industry Canada has announced that they will start sending out notices after the October 17, 2014 deadline.
In fact, Industry Canada will start first with corporations who have not filed their Form 3 annual summary for a number of years. (Hint - if you will not make the deadline at least file your annual summary with Industry Canada with the correct address!). Industry Canada will look at the number of transitions left in October to determine how they will approach the remaining corporations. Industry Canada must send notices to the registered office and every director in order to be able to dissolve a CCA corporation. So if there are 8-10 directors on a typical non-profit then they will have to send about 9-11 letters per non-profit. If there are a lot of corporations who have to transition, it will take longer because of the time involved in sending the notices and dealing with the responses.
Do you require legal advice with respect to Canadian or Ontario non-profits or charities?
Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.