Bill-24, the Societies Act (the "New
Act"), received Royal Assent on May 4, 2015 and comes
into force today, November 28, 2016. Every society incorporated
under the predecessor to the New Act (the Society Act, the
"Old Act") must transition under the New
Act before November 28, 2018 (2 years from the coming into force of
the New Act, the "Transition Deadline").
The New Act will apply to societies in British Columbia, whether
they have transitioned or not, as of today. Below are some
highlights of the changes to the Old Act and a few options on
transitioning. For a more in-depth analysis click
here.
Highlights of Changes
The New Act has many benefits but also some drawbacks compared
to the Old Act. One major change is the addition of a new type of
society called a "member-funded" society. A society may
now incorporate as a member-funded society, and a society
incorporated under the Old Act may transition to being a
member-funded society. Member funded societies
