The Ontario Ministry of Government and Consumer Services has undertaken a project to review and reform the Ontario Corporations Act (CA). The purpose of the project is to develop a new legal framework to govern the structure and activities of charities and not-for-profit corporations.
This discussion paper is the third and last in a series of papers released by the Ministry to solicit comments and suggestions regarding reform of this important legislation. The first consultation paper was released on May 7, 2007 and requested feedback on issues that included the incorporation process, structure of a proposed new act, definition of a not-for-profit corporation, classification system, and corporate powers and capacity. The deadline for submissions was September 30, 2007. A second consultation paper was released on August 22, 2007 and requested feedback on issues related to directors and officers. The deadline for submissions to this paper was December 31, 2007.
The CA provides the statutory framework governing the creation, governance, and dissolution of not-for-profit corporations, including charitable corporations. In addition, it provides the legislation under which insurance companies in Ontario are incorporated and find their basic corporate governance rules, although the consultation will not focus on insurance issues.
It should be noted that the CA is an organizational statute, not a regulatory statute. In other words, enforcement of the rights and duties under the statute lies primarily with the corporation, its directors and its members. Hence, the focus of this consultation is not on the regulation of charitable and other not-for-profit corporations.
The Ministry kindly requests your input, views, and feedback on the issues and consultation questions outlined in this paper.
Respondents are not restricted to consideration of only the questions in this document. We are interested in any other perspectives that you feel are appropriate.
To access the PDF version of the consultation document, please click here.
Please respond by May 31, 2008 electronically or in writing, to:
Corporations Act Modernization
Ministry of Government and Consumer Services
Policy Branch
777 Bay Street
5th Floor – Suite 501
Toronto, ON M7A 2J3
Note: The above document is available in Acrobat (*PDF) format. To view PDF format files, you need to have Adobe Acrobat® Reader installed on your computer. You can download this free software from the Adobe website.
All materials or comments received from organizations may be used and disclosed by the Ministry to assist in evaluating and revising existing legislation. This may involve disclosing materials, comments, or summaries of them, to other interested parties during and after the public comment period.
An individual who provides materials or comments and who indicates an affiliation with an organization will be considered to have submitted those comments or materials on behalf of the organization so identified.
Materials or comments received from individuals who do not indicate an affiliation with an organization may be used and disclosed to assist the Ministry in evaluating and revising existing legislation. However, the Ministry will not disclose personal information, such as an individual's name and contact details, unless required by law.
If you have any questions about the collection of this information, you can contact:
Access and Privacy Coordinator
Ministry of Government Services
(416) 326-8470
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