Getting Ready for the Canada Not-For-Profit Corporations Act: What your Group Needs to Know
Expected to come into force this fall, the new Canada Not-For-Profit Corporations Act (NFP Act) sets out a host of new rules that could pose significant compliance challenges for federally incorporated not-for-profit organizations.
How can you prepare for these changes?
- Watch and listen to the September 7th webinar on Wimba (a new window will open - Room ID is "RCEN", please enter your name and enter)
- View the slides from the session:
The new NFP Act will require greater financial transparency on the part of non-profits and is intended to eliminate unnecessary regulations. Once it is enacted, non-profits will have 3 years to transition to the new rules.
During the webinar, Stephen Hazell and Sarah Jackson from Ecovision Law, and Coleen Kirby from Corporations Canada (Industry Canada) presented an overview of the NFP Act, what it means for environmental non-profits, and what steps you can take now to get ready. The presentations were followed by a question and answer session.
The speakers discussed key provisions of the new law, such as those requiring non-profits to:
- resubmit incorporation articles and revise by-laws
- establish clear conditions for membership
- provide members with rights to access corporate records and membership lists
- consider the rules around the use of electronic documents and voting
- adapt to increased financial review and accounting requirements
- give notice of meetings of members and consider absentee voting; and more
Read about the proposed changes, published in the Canada Gazette: