Proposed Changes To Laws Affecting Ontario Not-For-Profits And Charities

On September 14, 2017, Bill 154, An Act to cut unnecessary red tape by enacting one new Act and making various amendments and repeals, received first reading in the Legislative Assembly of Ontario. The Bill impacts the Ontario not-for-profit and charitable sector as it proposes amendments to three important statutes, the Corporations Act, the proposed Not-for-Profit Corporations Act, 2010 and the Charities Accounting Act.

Corporations Act

The Corporations Act is the current corporate legislation that applies to not-for-profit corporations incorporated in the Province of Ontario (called corporations without share capital in the Act). Amendments to the Corporations Act are being proposed as the not-forprofit sector waits for the Not-for- Profit Corporations Act, 2010 to come into force. The Corporations Act is antiquated legislation that does not incorporate modern technology in many of the ways that corporations fulfill their responsibilities. Bill 154 will remedy