Changes To "Canada Not-For-Profits Corporations Act" Require Compliance By All

In an effort to modernize its statutes and processes, the Government of Canada has brought about wholesale changes to the Canada Not-For-Profit Corporations Act ("the new NFP Act"). All federal not-for-profit corporations must complete the process to transition to the new rules no later than October 17^th, 2014. Any not for profit corporation which fails to make the transition will be automatically dissolved.

The actual transition process itself is straight-forward.¹ A not-for-profit corporation must seek a Certificate of Continuance pursuant to the new NFP Act. This process is similar to the original incorporation process but instead of seeking to be re-incorporated, not for profit corporations ("NFPs") must instead seek to continue operating under to the new act and obtain a Certificate of Continuance from the federal Government. There is no fee to apply for a Certificate of Continuance.