A representative of Industry Canada spoke at a charity law conference last week and reminded us that last Friday  ‑ October 17, 2014 ‑ was the deadline to “continue” federal non‑profits under the new Canada Not‑for‑Profit Corporations Act.  However, she also assured conference‑goers that dissolution is not automatic.  Industry Canada will first clear the backlog of last minute continuance applications that it has received.  Then it will begin the process of contacting those corporations which missed the deadline.  She acknowledged that many of those who have not yet filed have very likely done so deliberately – as a way to dissolve dormant corporations without taking any active steps.  Others will have missed the deadline by mistake and those will get 120 days’ written notice of dissolution.   If you’re not sure if your organization has taken the steps it should have taken, you can check its status on Industry Canada’s website.

And as always, if you need help with the transition, give us a call!

Filed in: Charities

Tags: Canada Not‑for‑Profit Corporations Act, continuance