The Ontario Not-for-Profit Corporations Act (ONCA) was proclaimed on October 19, 2021. This legislation is the enabling corporate legal framework for most nonprofits incorporated under provincial law. It may affect nonprofits in many important ways, such as:
The requirement to get an audit
Members’ rights to make proposals and call members’ meetings
The number of your directors.
Nonprofits will have three years after proclamation to transition to the new rules. In the meantime, the rules and articles and bylaws will continue to be valid provided they were valid under the previous legislation (Ontario’s Corporations Act).
ONCA provides Ontario not-for-profit corporations, including charitable corporations, with a modern legal framework to meet the needs of today's not-for-profit sector. It sets out how not-for-profit corporations are created, governed and dissolved. As of October 19, 2021, ONCA is in force.