ONCA will apply to most not-for-profit corporations in Ontario, including special or private act corporations. There are about 59,000 of these corporations. However, it will not apply to not-for-profit corporations that are incorporated under special or private acts where there is a conflict between ONCA or one of its regulations and another act or its regulations that applies to a corporation without share capital. In this case the other act or its regulations prevail over ONCA.

ONCA may also apply to companies that “have objects in whole or in party of a social nature” such as share capital social clubs, if these companies choose to continue as a corporation under ONCA within 5 years from ONCA coming into force. These companies also have the option to continue as co-operative corporations under the Ontario Co-operative Corporations Act or share capital corporations under the Ontario Business Corporations Act instead.

ONCA will not apply to insurance companies that are incorporated under the Ontario Corporations Act. ONCA will also not apply to federally incorporated not-for-profit corporations or other provincially incorporated not-for-profit corporations, even though they may operate in Ontario. 

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