The Ontario government has released draft default by-laws for use under the Not-for-profit Corporations Act, 2012 (“ONCA”). These by-laws will serve as a guide for corporations transitioning from the Corporations Act (Ontario) to the ONCA, and also will be deemed to be the by-laws for any entity incorporated under the ONCA which has not adopted other by-laws within sixty days of incorporation. While it is helpful to have the default by-laws as a guide, our experience suggests that most corporations will want to customize their by-laws to their own unique governance situation. Keep in mind that the ONCA has not yet been proclaimed in force – the Ontario government has stated that January 2014 is the earliest expected date.
View the draft organizational by-law at http://www.sse.gov.on.ca/mcs/en/Pages/onca6.aspx