Serving the Public
Bill 65: Not-for-Profit Corporations
Institute Intervenes on Not-for-Profit Corporations Bill
Bill 65, the Ontario government’s proposed Not-for-Profit Corporations Act, was introduced in the Legislature on May 12, 2010. Now before the Standing Committee on Social Policy following Second Reading, this legislation is intended to “enhance corporate governance and accountability; simplify the incorporation process; give more rights to members; and better protect directors and officers from personal liability” respecting Ontario’s 46,000 not-for-profit corporations, according to the Ministry of Consumer Services.
However, a review of the legislation by Institute staff revealed several key concerns. Among them, Bill 65 would:
View the complete transcript of the Institute’s August 23 presentation to the Committee here.
The proposed legislation itself can be reviewed at http://www.ontla.on.ca/web/bills/bills_detail.do?locale=en&Intranet=&BillID=2347
The Institute awaits the Committee’s and government’s decision on how to proceed following this intervention, and we will advise members as developments warrant.