Step 2: When do I need to act?
Decide when to start preparing for ONCA
If you’ve confirmed that the Ontario’s Not-for-Profit Corporations Act (ONCA) applies to your nonprofit, your next step is to decide when to start preparing for it. You have some options.
You can start now or wait until after the ONCA is proclaimed on October 19, 2021, which means it has taken effect. What you can do to prepare, depends on what stage the Act is at. The table below shows you the steps you can take at different stages in the process.
|Start now||ONCA is proclaimed (October 19, 2021)|
|Step 1 – Find out if the ONCA applies||✔||✔|
|Step 2 – Decide when to prepare||✔||✔|
|Step 3 – Gather important documents||✔||✔|
|Step 4 – Understand what’s changing||✔||✔|
|Step 5 – Update your governing documents||✔||✔|
|Step 6 – File your documents with the government||✔|
You have 3 years after the ONCA is proclaimed to review, update and file your governing documents with the Ontario government. This period is expected to end in early 2023.
If you don’t update your documents at all
You still have to follow ONCA because it will automatically apply to you.
Even if you decide to work with a lawyer to update your governing documents, consider forming a small group of different stakeholders to work on updating your bylaws.
There are many advantages with a team approach. Your bylaws will benefit from multiple perspectives. More people get familiar with the new bylaws. If one person leaves the group, the work can continue. Dividing responsibilities between the team members can make the task more manageable.
To start preparing for the ONCA see Step 3.