ONCA cannot come into force until:
A bill containing these amendments, formerly known as Bill 85, was introduced in 2013 but died when the 2014 provincial election was called.
The government is fully committed to bringing ONCA into force at the earliest opportunity and will provide the sector with at least 24 months’ notice before proclamation. Existing corporations will have a three-year transition period once ONCA is in force and assistance will be available to ensure a smooth transition to implementation.
Existing not-for-profit corporations will have a three-year transition period once ONCA is in force.
Existing not-for-profit corporations will have three years to make any necessary amendments to their incorporation and other documents.
Documents that may need to be changed include letters patent and any supplementary letters patent, by-laws and special resolutions.
Corporations should review their documents before the end of this period.
With few exceptions, ONCA will apply to not-for-profit corporations that are incorporated under special or private acts.
If there is a conflict between ONCA or one of its regulations and another act or its regulations that applies to a corporation without share capital, the other act prevails. These corporations are encouraged to consult a lawyer to find out which legislation applies.
There is a five-year transition period for companies referred to as “companies that have objects in whole or in part of a social nature.”
Examples of these companies include, share capital social clubs (i.e. golf, tennis or country clubs) that are governed under Part II of the Corporations Act.
Learn more in the Transition Checklist.
Insurance companies that are incorporated under the Corporations Act will continue to be governed by that act.