The Not-for-Profit Corporations Act, 2010 (“ONCA”) came into force on October 19, 2021. Not-for-profit corporations incorporated in Ontario will have a three year transition period to make changes to their governing documents to comply with the ONCA. During the transition period, the ONCA will apply where the not-for-profit corporation’s existing governing documents are silent.
As not-for-profit corporations prepare for member Annual Meetings, directors should be aware of new and different requirements in the ONCA.
This presentation covered:
- Which ONCA rules apply for Annual Meetings?
- New member proposal rights
- Changes in proxy requirements
- Updates to director election procedures
- Obligations related to auditors