Mr. Speaker, the new act would modernize the not for profit sector. The old act is from 1917. New measures would promote accountability, better protect the rights of members and clarify responsibilities of directors. This would enhance public trust in a sector, which includes national business associations and charities, like the United Way and the Canadian Federation of Independent Business. The new act would help reduce the regulatory and paper burden.
The new act would mean that not for profits would spend less time and money on red tape and more time on what they do best, which is help deliver important services to Canadians.