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Why you should not be setting up an Ontario non-profit corporation under the OCA today

OCAThe Ontario government passed the Ontario Not-for-Profit Corporations Act (ONCA) in 2010. It was originally expected to come into force in 2013, but it has been delayed a number of times. In December 2017, the Ontario government announced that it was “working to bring ONCA into force as early as possible, with a target of early 2020.”

However, despite the approaching coming into force date of ONCA, many not-for-profits continue to incorporate under the Ontario Corporations Act (OCA) rather than the federal Canada Non-for-profit Corporations Act (CNCA), a more suitable option because it could save time and money.

To find out more about why Ontario non-for-profits should not incorporate under OCA, read this article by Mark Blumberg and Taylor Teasdale of Blumberg Segal LLP.

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In addition to our regular guest bloggers, Inside Internal Controls blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of risk management and best practices in finance and accounting, information technology, environmental issues, corporate governance, sales/marketing and operations, not-for-profits and business related issues in Canada. If you are a subject matter expert and would like to become an occasional blogger, please contact Yosie Saint-Cyr at editor@firstreference.com. If you liked this post and would like to subscribe to Inside Internal Controls blog click here.
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