Industry Canada has announced that the Canada Forprofit Corporations Act (the "NFP Act") will come into force on October 17, 2011. This means that the last day for submitting an application for incorporation under the current legislation – the Canada Corporations Act, Part II (the "CCA") – is October 16, 2011, the day before the NFP Act comes into force. Additionally, since the CCA will eventually be repealed, organizations incorporated under that legislation will have until October 17, 2014 to make the transition to the NFP Act.
We will be contacting our clients who are affected by the NFP Act to discuss the transition process, but during the interim, more information is available at: http://corporationscanada.ic.gc.ca/eic/site/cddgc. nsf/eng/h_cs03925.html.
The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.
