Bill C-4 (Historical)

Canada Not-for-profit Corporations Act

An Act respecting not-for-profit corporations and certain other corporations

This enactment establishes a framework for the governance of not-for-profit corporations and other corporations without share capital, mainly based on the Canada Business Corporations Act.
The enactment replaces the “letters patent” system of incorporation by an “as of right” system of incorporation. The current requirement for ministerial review of letters patent and by-laws prior to incorporation is replaced by the granting of incorporation upon the sending of required information and payment of a fee.
The enactment provides for modern corporate governance standards, including the rights, powers, duties and liabilities of directors and officers, along with related defences, and financial accountability and disclosure requirements.
The enactment sets out the capacity and powers of a corporation as a natural person, including its right to buy and sell property, make investments, borrow funds and issue debt obligations.
The enactment sets out the rights of members, including the right to vote at a meeting of members, call a special meeting of members, advance proposals for consideration at meetings of members and access corporate records.
The enactment provides requirements for financial review by a public accountant and financial disclosure based on whether a corporation has solicited funds and its level of annual revenue.
The enactment gives the Director powers of administration, including the power to make inquiries related to compliance and to access key corporate documents such as financial statements and membership lists.
The enactment includes remedies for members and other interested persons to address the conduct of a corporation that is oppressive or unfairly prejudicial to or unfairly disregards the interests of any creditor, director, officer or member.
The enactment provides procedures for the amalgamation, continuance, liquidation and dissolution of a corporation and other fundamental corporate changes. The continuance provisions govern the continuance of bodies incorporated under other Acts and provide a power for the Governor in Council to require a federal body corporate without share capital to apply for continuance under the enactment or be dissolved.
The enactment modernizes the legal regime that applies to corporations without share capital created by special Acts of Parliament by providing that those corporations are natural persons, requiring the holding of an annual meeting and the sending of an annual return, and regulating a change of a corporation’s name and its dissolution.
The enactment gives corporations with share capital created by special Acts of Parliament and subject to Part IV of the Canada Corporations Act six months to apply for continuance under the Canada Business Corporations Act or be dissolved.
The enactment makes a number of consequential amendments to other federal Acts. It provides for a phased repeal of the Canada Corporations Act as corporations cease being subject to the Parts of that Act.

Business of the House

[Jay Hill, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, I am very pleased that today we have already completed the second reading stage of Bill C-6, consumer product safety. We expect to conclude debate on the third reading stage of Bill C-11, human pathogens and toxins. At least, it is the hope of the government to see that bill move along.

Following Bill C-11, it is our intention to call Bill C-3, arctic waters, which is at report stage and third reading. It would be nice to see that bill move along as well and get over to the other place.

As we all know, the House is not sitting tomorrow to accommodate the Liberal Party convention. This will certainly give government members the opportunity to be back in their constituencies doing lots of hard work.

Next week, we will continue with Bill C-3, arctic waters; the second reading stage of Bill S-2, the customs act; and Bill C-4, not for profit, which was reported back from committee on April 23.

Adding to the list are two bills that are at second reading: Bill C-28, the Cree-Naskapi bill, and Bill C-26, auto theft.

I would just respond to the opposition House leader, who referred to the two departments that will be called before the chamber for committee of the whole: Fisheries and Oceans and Agriculture and Agri-Food. Of course, we will be scheduling those debates in good time and within the Standing Orders.

Industry, Science and Technology

[Michael Chong, Conservative, Wellington—Halton Hills, ON]

Mr. Speaker, I have the honour to present, in both official languages, the third report of the Standing Committee on Industry, Science and Technology on Bill C-4, An Act respecting not-for-profit corporations and certain other corporations.

Business of the House

[Jay Hill, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, I welcome those questions from the opposition House leader.

In a few moments we will be voting on the second reading stage of Bill C-10, the budget implementation act. Also, the House will approve supplementary estimates (B).

I would like to take this time to thank all members for their cooperation in accelerating the consideration and approval of supplementary estimates (B) including and especially my cabinet colleagues who responded with little notice to invitations from the various committees to study these estimates.

After the votes, we will continue with the debate on Bill C-4, not-for-profit legislation; followed by Bill C-9, transportation of dangerous goods; Bill C-5, Indian oil and gas; Bill C-11, an act to promote safety and security with respect to human pathogens and toxins; and Bill C-3, Arctic waters. All these bills are at second reading.

Next week is a constituency week when the House will be adjourned.

As the House is also aware President Barack Obama will be visiting Canada next week. Since the House will not be sitting, I would like to take this opportunity, on behalf of all members of the House, to welcome the President to Canada. We hope he has a productive and enjoyable visit here in our nation's capital.

When the House returns from the break, we will continue with the list of business I mentioned earlier and in addition to these bills Tuesday, February 24 and Thursday, February 26 will be designated as opposition days.

[Jay Hill, Conservative, Leader of the Government in the House of Commons]

Mr. Speaker, we will continue with the opposition motion today concerning the possibility of growing trade protectionism in the United States.

Tomorrow we will carry on with the remaining legislation that the government scheduled for this week, Bill C-4, An Act respecting not-for-profit corporations and certain other corporations, and Bill C-5, An Act to amend the Indian Oil and Gas Act.

Next week we shall begin and, hopefully, conclude debate at second reading of the budget bill. Following the budget bill, we will call Bill C-9, An Act to amend the Transportation of Dangerous Goods Act, 1992, and any legislation that is not completed this week.

Thursday, February 12, a week from now, shall be an allotted day.

Before I conclude my remarks, I would like to take a moment to thank all the opposition House leaders, whips and leaders for their patience, flexibility and cooperation while dealing with the budget bill. Although we do not see eye to eye on all of its contents, I appreciate the cooperation when dealing with the somewhat complicated process to bring such a measure before the House.

It does not benefit anyone to get bogged down on process but there is a benefit to the public when we can get to the substantive policy debate that the budget bill will offer and, ultimately, to ensure the timely disbursements of the benefits it intends to provide Canadians during these difficult times.

Despite the daily partisanship of questions period, this is clear evidence that if all of us work with the best interests of Canadians in mind, Parliament can work the way that Canadians deserve and expect it to.

Canada Not-for-Profit Corporations Act

[Diane Ablonczy, Conservative, Minister of State (Small Business and Tourism)]

moved for leave to introduce Bill C-4, An Act respecting not-for-profit corporations and certain other corporations.

(Motions deemed adopted, bill read the first time and printed)