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Canada Not-For-Profit Corporations Act

Canada Not-For-Profit
Corporations Act

Alberta Government


Page 1 | 2 | 3 | 4

Government Announces the Introduction of New Legislation
Governing Federal Not-For-Profit Organizations

OTTAWA, November 15, 2004 — The Honourable David L. Emerson, Minister of Industry, today introduced new legislation to govern federally incorporated not-for-profit corporations.

The proposed new Canada Not-for-Profit Corporations Act will replace Parts II and III of the Canada Corporations Act with a leading-edge, modern corporate governance framework for not-for-profit organizations incorporating at the federal level. The proposed legislative changes will strengthen and clarify the corporate governance rules so that not-for-profit corporations have the necessary tools to meet the challenges of the future.

"A new Canada Not-For-Profit Corporations Act will help ensure the long-term strength and vitality of voluntary organizations and social economy enterprises," said Minister Emerson. "The introduction of this legislation fulfills the government's commitment in the Speech from the Throne to foster the social economy, in particular the legion of not-for-profit activities and enterprises that harness civic energies to address social needs, whether they are international, national or local."

The new Act also follows on the government's commitment to a smart regulation agenda, which will simplify and streamline the regulatory burden on enterprises.

Two rounds of national consultations have yielded a strong endorsement for a new statute. The new Act will promote the development of well-governed federally incorporated organizations. It will be among the most modern statutes of its kind, demonstrating the government's continued commitment to world-class corporate law. The law will be flexible enough to meet the needs of large and small organizations while providing the accountability and transparency necessary to maintain public trust and confidence in the not-for-profit sector.

The proposed Canada Not-for-Profit Corporations Act will build on the well-developed standards of corporate governance that are found in the Canada Business Corporations Act. It will reduce regulatory burden on the not-for-profit sector and the government; improve financial accountability; clarify the roles and responsibilities of directors and officers; and enhance and protect the rights of members.

Some 18,000 not-for-profit corporations and corporations without share capital are incorporated federally. A broad range of corporations stand to benefit from the new Act, including health and community-based organizations, environmental organizations, cultural and heritage societies, national charities, major religious organizations, mutual benefit clubs, and some transportation service providers such as airports.

For additional information, please contact:

Stéphanie Leblanc
Office of the Honourable David L. Emerson
Minister of Industry
(613) 995-9001

Media Relations
Industry Canada
(613) 943-2502


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