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ARTICLE · 03 NOVEMBER 2014

CNCA Deadline Has Passed – What To Do Next?

Miller Thomson
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The deadline for federal not-for-profit corporations to continue under the Canada Not-for-profit Corporations Act was October 17, 2014.

CanadaCorporate/Commercial Law
Brenda Taylor
Brenda Taylor
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The deadline for federal not-for-profit corporations to continue under the Canada Not-for-profit Corporations Act (the "CNCA") was October 17, 2014. "Continuance" is the process whereby all federal not-for-profit corporations are required to transition all of their corporate documents to comply with a new set of rules that govern the not-for-profit sector.

Any federal not-for-profit corporation that has not yet completed the transition process is now at risk for being dissolved by Corporations Canada.

The dissolution process will not be automatic. Corporations Canada has indicated that it will issue a Pending Dissolution Notice ("Notice") to corporations that have not yet continued. The Notice will provide that a corporation as 120 days from the date of the Notice to complete its transition under the CNCA, failing which it will be dissolved with no further notice.

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