The new Canada Not-for-profit Corporations Act (NFP Act) was proclaimed in force last October and all federally-incorporated non-share capital corporations must sit up and take notice. On Thursday, April 12, the Book and Periodical Council is holding a seminar on the NFP Act and its impact specifically on small publishing organizations.
The NFP Act modernizes the law to promote accountability, transparency, and good corporate governance, to clarify directors’ duty of care and to provide for member rights and remedies. But existing organizations must start now to bring their current constitutions – Letters Patent and by-laws – into compliance. Every such organization must file “Articles of Continuance” and enact new by-laws to “continue” under the new NFP Act. Failure to do so before October 14, 2014 will result in involuntary dissolution. Don’t be dissolute! Your organization will need to thoroughly review its membership structure and by-laws. The time to start this process is now.
This seminar will explain what’s new and important in the new NFP Act, and the key considerations in the drafting of new articles and by-laws to comply. It will set out the timeline to bear in mind and provide a step-by-step process to follow, with direction on where to find the resources you need to get the job done.
This seminar (held in downtown Toronto) is free for BPC members. For more information, contact the BPC at [email protected]
Grace Westcott is a commercial lawyer with a boutique practice focusing on copyright, media and the cultural industries. She has a particular focus on publishing and electronic media. Westcott has acted for a number of trade associations, collectives and organizations in these industries, as well as for a corporate and individual clientele. Her background includes extensive experience in general corporate practice.