Lexis Nexis A Guide to the Ontario Not-for-Profit Corporations Act, 2010
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Product description
New legislation governing not-for-profit corporations came into force in Ontario in October 2021. The Not-for-Profit Corporations Act, 2010 (ONCA) provides a modern legal framework for organizations operating in the not-for-profit and charitable sectors by setting out how they should be established, governed and dissolved. Existing not-for-profit corporations in Ontario have three years – until October 2024 – to make the transition to operating under the new statute.
This new publication, A Guide to the Ontario Not-for-Profit Corporations Act, 2010, is intended to help officers, directors and volunteers involved with community and professional organizations through that transition.
Essential Advice For Not-For-Profits
Written by Don Bourgeois, a lawyer with recognized expertise and decades of experience in the not-for-profit sector, this useful book offers valuable insight for organizations that are subject to the ONCA and must now bring their governing documents into compliance with the new rules.
By providing step-by-step guidance for making the transition, Bourgeois demystifies the process and makes it more achievable. He argues that taking the initiative to make those changes, and in so doing, having a say in defining the company's future, is far preferable to missing the deadline, in which case the amendments will be "deemed" to have been made – without the organization's input. In addition, taking a transparent approach will allow the officers and directors to involve members and stakeholders in that decision-making process so they buy into the evolution of the corporation.
While lawyers and accountants may refer to A Guide to the Ontario Not-for-Profit Corporations Act, 2010 for direction – especially if they are not experts in not-for-profits and charities – this comprehensive, informative text is specifically geared towards officers, directors, members and stakeholders of community and professional organizations who are looking for basic advice on interpreting and apply the provisions of the new legislation.
Table of contents
Chapter 1: Charitable and Not-For-Profit Sector in Context
1.01 Introduction: To deem or not to deem
1.02 Options to the ONCA
1.03 Application of the ONCA – A large part of Ontario’s economic, social and cultural life
1.04 Charities – Special considerations
Chapter 2: Ontario Not-for-Profit Corporations Act, 2010 – Understanding the Legislation
2.01 Understanding rights and obligations under the legislation
2.02 Application of the ONCA and definitions
2.03 Capacity and powers of the corporation
2.04 Members: Roles, rights and responsibilities
2.05 Directors and officers: Roles, rights and responsibilities
2.06 Financing the corporation
2.07 Financial disclosure
2.08 Records
2.09 Fundamental changes
Chapter 3: The Transition Process
3.01 Initial steps – Who are we? What do we want to be?
3.02 What does the ONCA require?
3.03 Social purposes: Social clubs and 5-year transition
Appendix A: Standard Organization By-Law
Appendix B: Not-for-Profit Corporations Act, 2010, S.O. 2010, c.15
Appendix C: Names and Filings, O. Reg. 394/21
Appendix D: General, O. Reg. 395/21
Appendix E: Corporations Sole – Application of Act and Regulations, O. Reg, 396/21
