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ARTICLE · 17 JULY 2015

Update On Proposed Changes To British Columbia's Society Act

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The new Act will repeal and replace the Society Act, which is the legislation that currently governs over 27,000 not for profit legal entities in British Columbia.

CanadaCorporate/Commercial Law
Tamara Wong
Tamara Wong
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On May 14, 2015, Bill 24, the Societies Act (the "Act"), received Royal Assent. The new Act will repeal and replace the Society Act, which is the legislation that currently governs over 27,000 not for profit legal entities in British Columbia. While some sections of the new Act are now in force, the majority of the Act will come into force by regulation, which is expected to be within 18 months after Royal Assent.

The new Act is intended to enhance flexibility by providing societies with more internal governance options while maintaining fundamental accountability provisions.

Transition

Once the majority of the new Act is in force, societies will have two years to transition under the Act. To transition under the Act, a society must file with the registrar a transition application, consisting of the constitution, bylaws, statement of directors and registered office of the society. The transition can be an opportunity for existing societies to review and update

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