On April 1, 2018, Ontario Regulation 112/18 came into effect amending O. Reg. 4/01 (Approved Acts of Executors and Trustees, hereinafter “Regulation”) [i] under the Charities Accounting Act (the “CAA”). The new provisions modify the existing Ontario common law rule that prohibited a charity from making payments to a director (or any person related to […]
Social Investment changes in Charities Accounting Act
By: Alexandra Tzannidakis Among other things, Bill 154 (the proposed Cutting Unnecessary Red Tape Act) makes significant changes to the Charities Accounting Act (“CAA”). The changes give charities increased freedom and certainty in making “social investments” where the focus is mission-related results rather than financial benefit to the charity. A brief backgrounder is in order […]
Small Change Large Consequences
Ontario’s Regulatory Change to the Payment of Directors By: Adam Aptowitzer The system of Charity Law which Canada inherited from Britain upon Confederation was focused on the need to protect charitable property. Part of this system included rules which forbade those with control of such property from benefiting from it. These rules are still in […]