A Fiduciary Obligation Does Not (Necessarily) a Fiduciary Make By Joel Secter Regular readers may recall the article we wrote (click here) on the topic of officer liability. There we commented on circumstances in which officers of corporations under the Canada Not-for-profit Corporations Act (CNCA) (whether continued to it or incorporated there) will be exposed […]
Getting on Board with the CNCA
Getting on Board with the CNCA By Alexandra Tzannidakis You may have heard this already, but apparently it bears repeating: All charities and non-profit organizations incorporated under Part II of the Canada Corporations Act need to actively ‘continue’ to the new Canada Not-for-profit Corporations Act if they wish to stay in business. The new Act […]
Working Around Ban on Ex Officio Directors
Working Around Ban on Ex Officio Directors By Joel Secter A complication that arises under the new Canada Not-for-Profit Corporations Act (the “Act”) is that it does not permit ex officio directors.[1] A director is ex officio when appointed to a board by virtue of holding another office or position. Such directors are excluded by […]
Tick-Tock: Its Time to Continue
Tick Tock: It’s Time to Continue By Joel Secter October marks one year to the deadline for corporations incorporated under Part II of the Canada Corporations Act (CCA) to transition to the Canada Not-for-Profit Corporations Act (CNCA). This should come as no surprise; the CNCA came into force in 2011. Yet according to data obtained […]