OTTAWA, January 28, 2009 — The Honourable Diane Ablonczy, Minister of State (Small Business and Tourism), today reintroduced the Canada Not-for-Profit Corporations Act. The bill was introduced in the last session of Parliament but died on the Order Paper when Parliament was prorogued on December 3, 2008.
“This new, streamlined Act will help eliminate unnecessary regulation and provide flexibility to the not-for-profit sector,” said Minister of State Ablonczy. “This Act means not-for-profit organizations can spend less time and money on paperwork and more time on what they do best — helping deliver important services to Canadians.”
There are approximately 161 000 not-for-profit organizations in Canada, of which some 19 000 are incorporated federally. These organizations include charities, community associations, family centres, shelters and religious organizations.
“This new legislation will promote accountability, transparency and good corporate governance for not-for-profit organizations that are key to building a stronger Canada,” added Minister of State Ablonczy.
The proposed Canada Not-for-Profit Corporations Act will enable organizations to incorporate faster and improve their financial accountability, clarify the roles and responsibilities of directors and officers, and enhance the protection of members’ rights.
The proposed Canada Not-for-Profit Corporations Act will allow for the repeal of the outdated Canada Corporations Act. Corporations currently incorporated under the Canada Corporations Act will have three years to apply for corporate status under the proposed Canada Not-for-Profit Corporations Act. There will be no fees for this process.
For further information (media only), please contact:
Catherine Godbout
Office of the Honourable Diane Ablonczy
Minister of State (Small Business and Tourism)
613-947-5856
Media Relations
Industry Canada
613-943-2502
