We continue to be asked if there is any news about the
proclamation of the Not-for-profit Corporations Act (often called
the "ONCA"). The government has not announced anything
new about the timing of the proclamation recently. The Ontario
government website, last modified in December 2015, states the
following:
"The government is fully committed to bringing ONCA into force
at the earliest opportunity and will provide the sector with at
least 24 months' notice before proclamation. Existing
corporations will have a three-year transition period once ONCA is
in force and assistance will be available to ensure a smooth
transition to implementation."
We will continue to monitor the news around the ONCA.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
