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ARTICLE · 13 NOVEMBER 2020

Preparing For The ONCA

Gardiner Roberts LLP
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The Not-for-profit Corporations Act (Ontario) (ONCA) that we have been waiting for since 2010 is likely going to come into effect on January 1, 2021 or shortly thereafter.

CanadaCorporate/Commercial Law
Clifford Goldfarb
Clifford Goldfarb
James Parks
James Parks
Heather Keachie
Heather Keachie
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The ONCA is coming early 2021

The Not-for-profit Corporations Act (Ontario) (ONCA) that we have been waiting for since 2010 is likely going to come into effect on January 1, 2021 or shortly thereafter. When it comes into effect, all existing corporations governed by the OCA will automatically be continued under the ONCA. There is no need for corporations to take any action. The former legislation, the Corporations Act (Ontario), will no longer apply to most non-share capital corporations incorporated under the OCA, except for certain transitional provisions.

While corporations are not required to make changes to their governing documents, there are a number of good reasons why directors of non-share capital corporations might want to consider making some revisions.

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