Since ONCA has not come into force yet and no regulations have been released, it is a bit premature to prepare ONCA compliant by-laws now. ONCA compliant by-laws may not necessarily be compliant with the Ontario Corporations Act (“OCA”), which currently governs not-for-profit corporations in Ontario.  The Ontario Government has said that it will provide the sector with at least two years notice of ONCA coming into force so it is unlikely that ONCA will come into force until about 2018.

Adopting ONCA “compliant” by-laws before ONCA and its regulations are in force poses a risk that the corporation may be non-compliant now in hopes that it may be compliant sometime in the future. It is also possible that the regulations, when finalized, may affect any ONCA by-laws that are prepared in advance of their release.

If you feel your corporation needs to amends its by-laws now, it probably should make the changes under the current OCA. Cleaning up your by-laws under the OCA could make the transition to ONCA by-laws easier later on. 

For more information on ONCA see our ONCA directory or contact us at Blumberg Segal LLP.