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Bill C-21 An Act respecting not-for-profit corporations and other corporations without share capital - Questions and Answers
Table of Contents
- 1. What is "An Act respecting not-for-profit corporations and other corporations without share capital"?
- 2. What is Bill C-21?
- 3. What is covered by Bill C-21?
- 4. Where can members of the public get copies of the Bill?
- 5. How can members of the public comment on the Bill?
- 6. Where can members of the public get copies of the proposed regulations associated with the Bill?
- 7. How can a member of the public comment on the proposed regulations?
- 8. When will the Bill become law / be in force?
- 9. Does a corporation under the Canada Corporations Act Part II have to do anything because of the new law?
- 10. What must a corporation under the Canada Corporations Act Part II do because of the new law?
- 11. What will Corporations Canada do to provide information on the new Canada Not-for-profit Corporations Act
- What is "An Act respecting not-for-profit corporations and other corporations
without share capital"?
It is the long title of Bill C-21. The short title is the "Canada Not-for-profit Corporations Act".
- What is Bill C-21?
Bill C-21 will create a new Canada Not-for-profit Corporations Act, which will replace Parts II and III of the Canada Corporations Act.
- What is covered by Bill C-21?
The objective of the Bill is to replace Parts II and III of the Canada Corporations Act. Part II covers the requirements for federal not-for-profit corporations. Part III covers corporations without share capital created by Special Acts of Parliament.
- Where can members of the public get copies of the Bill?
Copies of the Bill are available from the Canadian Parliament website.
- How can members of the public comment on the Bill?
If a member of the public wishes to comment on the Bill, they need to contact the committee clerk for the Standing Committee on Industry, Natural Resources, Science and Technology (see Parliament of Canada).
- Where can members of the public get copies of the proposed regulations
associated with the Bill?
Proposed regulations associated with Bill C-21 are also available for comment. If someone would like a copy of the proposed regulations and an explanatory note that explains the nature of the regulations, they can go to the Corporations Canada's website or contact Corporations Canada directly at 1 866 333-5556 for a copy by mail.
- How can a member of the public comment on the proposed regulations?
Anyone wishing to comment on the proposed regulations can do so by sending a letter or an e-mail to Corporations Canada. It should be sent to the attention of Coleen Kirby.
It is our intention to acknowledge receipt of any comments received directly. Once all the comments have been received, a summary will be posted on Corporations Canada's website. Please note that comments received will become part of the public record, unless Corporations Canada is specifically asked by the person submitting the comments not to divulge them to the public.
- When will the Bill become law / be in force?
An exact date for the Bill to be in force is not known. The passage of the bill and associated regulations takes some time, probably at least a year or longer. Information on the progress of the Bill will be available on Corporations Canada's website.
- Does a corporation under the Canada Corporations Act Part II have
to do anything because of the new law?
A corporation subject to Part II of the Canada Corporations Act will be required to make the transition to the new Act within three (3) years of the new Act coming into force. Failure to do so will result in the Director taking action to dissolve the corporation. Information on how to make the transition to the new Act will be available when the new Act comes into force.
- What must a corporation under the Canada Corporations Act
Part II do because of the new law?
Information on how to make the transition to the new Act will be available when the new Act comes into force. The process will involve amending the corporation's by-laws and filing new articles with Corporations Canada. The corporation will be issued a certificate of continuance to replace the current letters patent.
- What will Corporations Canada do to provide information on the new
Canada Not-for-profit Corporations Act?
Corporations Canada is presently reviewing what should be done to best ensure that the Canadian public can take full advantage of the new Canada Not-for-profit Corporations Act. The range of options include:
- notices from the Director;
- policies and information kits explaining specific aspects of the new statute;
- presentations across the country to explain the new statute; and
- web-based presentations on the new statute.
