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Inside Internal Controls

News and discussion on implementing risk management

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Not-for-profit Corporations Act

New Ontario statutes in effect December 10, 2016

The new requirements may be particularly onerous for corporations like home–builders or condominium developers, or any other corporation which may have hundreds or thousands of ownership interests in land.

 

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New Ontario NFP Act delayed… again

On September 17, 2015, the Ontario Ministry of Government and Consumer Services quietly posted an update on its website in regards to the implementation of the Not-for-Profit- Corporations Act, 2010.

 

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Sexual harassment: Managing the risk

On the heels of Jian Ghomeshi’s firing from the CBC and the suspension of two Liberal MPs from caucus, Canadians are talking about sexual harassment. Although not a topic that is typically associated with the philanthropic sector, charities and non-profits are not immune from dealing with these types of issues…

 

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A fiduciary obligation does not (necessarily) a fiduciary make

Regular readers may recall the article we wrote on the topic of officer liability. There we commented on circumstances in which officers of corporations under the Canada Not-for-profit Corporations Act (CNCA) (whether continued to it or incorporated there) will be exposed to personal liability. Not long after that piece was written, an Executive Director of a corporation considering continuing to the CNCA who is an employee and not an officer in accordance with the corporation’s by-laws, asked us if she would owe a fiduciary duty to the corporation under the CNCA. On reflection, we concluded that the new officer provisions in the CNCA create a statutory framework wherein employees could be held liable for a breach of the same duties that are applicable to directors of those corporations. We left, for the moment, the question as to whether these duties were “fiduciary” or not.

 

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New rules arriving soon for non-profits in federal jurisdiction, Ontario

You not-for-profit organizations and charities out there probably remember that, in the not-too-distant past, the federal and Ontario governments enacted new laws governing the activities of NFPs. Well, some expect these laws to come into force within the next six months. That’s sooner than you probably think.

 

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Ontario Not-for-Profit Corporations Act

Ontario’s legislature wasted no time following the passage of the Canada Not-for-profit Corporations Act to enact its own Act to revise the law in respect of not-for-profit corporations (Bill 65). The Bill received royal assent on October 25, but the government hasn’t set a date for it to come into force yet.

 

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Ontario introduces not-for-profit corporations act

In late May, Ontario Bill 65, the not-for-profit corporations act, received second reading in the provincial legislature. This is the culmination of several years of consultation with the not-for-profit sector.

 

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