Federal NFP Corporations Act: What’s Next?

Companies incorporated under the Canada Corporations Act (Part II) were required to be continued under the new Canada Not-For-Profit Corporations Act on or before October 17, 2014.

Industry Canada has published a Q&A on the next steps for those entities that have not yet continued under the new Act.

A company that has not yet completed its continuance may do so after the deadline, provided that Corporations Canada has not dissolved the company.

Corporations Canada will be sending a "Pending Dissolution Notice" to a company that has failed to continue to inform the company that it has 120 days to transition. Companies that do not complete the transition before the end of the 120-day notice period will be assumed to be inactive and will be dissolved.