ARCHIVED — Part IV of the Canada Corporations Act and Bill C-4, An Act respecting not-for-profit corporations and certain other corporations
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June 24, 2009
Corporations Canada wishes to inform you that on June 23, 2009, Bill C-4, An Act respecting not-for-profit corporations and certain other corporations, received Royal Assent. Royal Assent is the final stage of the legislative process by which a bill becomes law. The goal of the bill is to repeal the Canada Corporations Act, including Part IV, and replace it with a modern corporate governance regime for the corporations governed by its provisions.
Amongst other things, the Bill requires corporations:
- created by a Special Act of Parliament,
- with share capital, and
- governed by provisions of Part IV of the Canada Corporations Act
to continue into the Canada Business Corporations Act (CBCA). The Bill requires corporations to complete their continuance to the CBCA within 6 months of Royal Assent of the Bill, or by December 24, 2009. If corporations have not completed the continuance by that date, then pursuant to subsection 297(6) those corporations will be automatically dissolved as of that date.
Prior to continuing under the CBCA, each corporation will need to prepare articles of continuance in order to comply with the requirements of the CBCA. Information on that process, including a guide on how to continue a corporation created by a Special Act of Parliament into the CBCA, along with a blank Form 11: Articles of Continuance is available on Corporations Canada's website. Further information is available from Corporations Canada at:
Client Services Section
9th floor, Jean Edmonds Tower South
365 Laurier Avenue West
Ottawa, Ontario K1A 0C8
Toll free: 1-866-333-5556
Richard G. Shaw
- Date modified: