( Disponible en anglais seulement )
The Ontario government recently announced that the Not-For-Profit Corporations Act, 2010 (the “ONCA”) will come into force on July 1, 2013. As we have reported previously, the ONCA has been passed by the Ontario Legislature but is not yet in force. It will come into force on the day named by proclamation. On that day, the ONCA will apply to non-share capital corporations established under the Corporations Act (Ontario).
While the current target date is July 1, 2013, the government has in the past announced earlier target in-force dates. Our understanding is that the government is waiting to have regulations and electronic filing systems in place before it officially announces that the legislation is in force. In the Spring of 2012, the government released a draft outline of the regulations to the ONCA. We understand that this draft was revised but not re-released. We are still waiting for the release of draft regulations.
With the moving target date and the current government being prorogued, we have been asked whether we expect July 1, 2013 to be the actual in-force date. Predicting the future is difficult. The first sign that this date will hold firm will be the release of draft regulations. Once there are draft regulations, the next issue is politics. As noted, the government has already passed the legislation and the in-force date is determined by proclamation of the Lieutenant Governor in Council. This process does not require a sitting government. However, political considerations may nonetheless impact whether and when this legislation is brought into force. So we need to wait and see.
Miller Thomson LLP’s charity and not-for-profit group will continue to keep our readers updated as this legislation progresses through the legislative process.