If you manage a federal not-for-profit corporation, be sure to have applied for a continuance under the new Act. Otherwise, on Friday, October 17, 2014, the corporation could disappear!
All federal non-profit corporations cur- rently governed by Part II of the Canada Corporations Act must amend their Letters Patent and apply for a Certificate of Continuance under the new Canada Not-for-Profit Corporations Act (the “NPCA”) by the latest October 17, 2014 in order to avoid automatic dissolution. This must be accompanied by a certifi- cate of an officer of the corporation confirming that the members have adopted new by-laws which comply with the requirements of the NPCA.
Registered charities that have complet- ed the transition to the NPCA will also have to submit documents to the Chari- ties Directorate of the Canada Revenue Agency to maintain their charitable sta- tus.