All About Estates

Proclamation of the ONCA – October 19, 2021

Today’s blog was written with the assistance of Mahsa Pezeshki, a law clerk at Fasken LLP

 

On August 17th the Ontario government announced that the Ontario Business Registry (OBR) will be launched on October 19, 2021 and The Ontario Not-for-Profit Corporations Act (ONCA) will also be proclaimed into force on the same day. The ONCA received Royal Assent on October 25, 2010 but cannot be brought into force until the OBR launches.

The ONCA with the aid of the OBR will provide a modern legislative framework for Ontario’s not-for-profit corporations. The legislation will significantly reduce the bureaucratic burden on not-for-profit corporations, moving from paper-based filings to digital services and providing them with enhanced flexibility. For the first time ever, Ontario not-for-profit corporations will be able to access an online government system for registrations and filings, saving them time and reducing duplication of paperwork. Features like pre-defined text will help users move along error-free and reduce administration costs.

Until the ONCA comes into force, the Corporations Act continues to govern not-for-profit corporations incorporated under the laws of Ontario. Once the ONCA is in force, such corporations will have a three-year transition period to make the necessary changes to conform their governing documents to the ONCA.

Regulations

Regulations that were needed prior to the proclamation of the ONCA have also been published.

https://www.ontario.ca/laws/regulation/r21393

https://www.ontario.ca/laws/regulation/r21394

https://www.ontario.ca/laws/regulation/r21395

https://www.ontario.ca/laws/regulation/r21396

What to do between now and October 19?

Ontario not-for-profit corporations can consult Ontario.ca/BusinessRegistry for more information about the new system.

In the meantime, Ontario not-for-profit corporations should stay abreast updates as they become available and start to take steps to get ready for their transitions to the ONCA.

About Corina Weigl
Corina Weigl is a partner in the Trusts, Wills, Estates and Charities group at Fasken, a leading international law firm with over 650 lawyers and 9 offices worldwide that offers comprehensive estate planning, estate administration, personal tax planning, charitable giving and estate litigation services. Email: cweigl@fasken.com

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