Are You Ready for BC’s New Societies Act?
About the new Societies Act
The new Societies Act became effective November 28, 2016. Not-for-profit organizations (NFPOs) formed under the old Society Act were given two years to transition to the new Societies Act. Effected BC NFPOs must transition to the new Societies Act and to a new online filing system called “Societies Online” by November 28, 2018.
It is important to note that much of the Societies Act is in effect even for those NFPOs who have not yet completed the transition process.
To transition, each affected NFPO is required to file a transition application through Societies Online. Before you proceed with transition be sure that the NFPO’s annual report filings are up to date, and you have the following for the NFPO:
- Unloadable version of the bylaws
- Directors’ information and registered office address
- Knowledge of whether the NFPO is becoming a member-funder society
To assist NFPOs with transition a transition guide can be found on the BC government’s website.
If you have any questions about this topic or if you would like assistance with the transition process, please contact your DMCL advisor.