Earlier today, the Ministry of Government and Consumer Services ("Ministry") announced that the Ontario Not-for-Profit Corporations Act, 2010 ("ONCA") will come into force on October 19, 2021. The coming into force of the ONCA has been long anticipated by the not-for-profit sector since it received Royal Assent in 2010.
As of the in-force date of October 19, 2021, not-for-profit corporations incorporated in Ontario will have a three-year transition period to make necessary changes to their governing documents to comply with the ONCA.
On October 19, 2021, the new Ontario Business Registry will also launch. The Ontario Business Registry will allow not-for-profit corporations and other businesses to complete over 90 transactions online, including registrations or filings that were previously submitted by mail or fax, including annual return filings. Ontario not-for-profit corporations and other businesses can sign up on the Ontario Business Registry website to receive more information and instructions on how to access the Registry once it goes live.
The Ministry has also indicated that until the Ontario Business Registry launches on October 19, 2021, corporations are exempted from the annual return filing requirement if the return is due between May 15, 2021 and October 19, 2021. This means that all not-for-profit corporations with a March 31 year end are exempt from the annual return filing requirements until the launch of the Registry.
Miller Thomson's Health Industry Group will continue to be available to support organizations with their transition to the new ONCA and use of the Ontario Business Registry. Stay tuned for further details for upcoming webinars and resources.
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