Human Resources Legislative Update
Ontario Legislation to Enhance Not-For-Profit Corporate Governance, Accountability
Date: May 12, 2010
On May 12, 2010, the Ontario government introduced legislation designed to modernize the legal framework in which not-for-profits operate. If passed, Bill 65, the Not-for-Profit Corporations Act, would enhance corporate governance and accountability by providing a statutory duty of care for directors; provide specific protection from liability for directors; enhance member democracy by expanding member remedies to ensure directors are acting in the corporation’s best interests; and increase transparency for financial information, access to records and when disciplinary action is contemplated against a member.
