44% of Ontario’s co-ops could be slated for dissolution. Make sure yours isn’t one of them!

August 24th, 2016 by Celia Chandler

In 2015, the Financial Services Commission of Ontario (FSCO) requested each of Ontario’s co‑operatives incorporated before December 31, 2014 and not dissolved to complete an information return. As reported last week by FSCO, many co‑ops filed their returns. However, about 44% of co‑ops on FSCO’s list did not.

Because of the low response rate, FSCO has advised that it will begin the process of dissolving those co‑ops no longer in operation. It’s not clear exactly what FSCO’s process will be. But we’d hate for your co‑op to be among them.

Did your co‑op respond? Take a look at FSCO’s directory to be sure.

Filed in: Co-operative Law

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