Regulation - LGIC

1. EXTENSION OF TEMPORARY SUSPENSION PERIOD - BUSINESS CORPORATIONS ACT 2. EXTENSION OF TEMPORARY SUSPENSION PERIOD - CORPORATIONS ACT 3. EXTENSION OF TEMPORARY SUSPENSION PERIOD - NOT-FOR-PROFIT CORPORATIONS ACT, 2010 4. EXTENSION OF TEMPORARY SUSPENSION PERIOD - CO-OPERATIVE CORPORATIONS ACT 5. EXTENSION OF TEMPORARY SUSPENSION PERIOD - CONDOMINIUM ACT, 1998

Regulation Number(s):
O. Reg. 542/20
O. Reg. 544/20
O. Reg. 693/21
O. Reg. 543/20
O. Reg. 541/20
Instrument Type:
Regulation - LGIC
Bill or Act:
Business Corporations Act; Corporations Act; Not-for-Profit Corporations Act, 2010; Co-operative Corporations Act; Condominium Act, 1998
Summary of Decision:
These regulatory amendments extend the effective period of the temporary legislative provisions related to virtual meetings until September 30, 2023.
Analysis of Regulatory Impact:
N/A
Further Information:
Click to open O. Reg. 542/20 (Extension of Temporary Suspension Period) under the Business Corporations Act
Click to open O. Reg. 544/20 (Extension of Temporary Suspension Period) under the Corporations Act
Click to open O. Reg. 693/21 (Extension of Temporary Suspension Period) under the Not-for-Profit Corporations Act,
Click to open O. Reg. 543/20 (Extension of Temporary Suspension Period) under the Co-operative Corporations Act
Proposal Number:
22-MGCS016
Posting Date:
Summary of Proposal:
Since the state of emergency declared under the Emergency Management and Civil Protection Act was terminated on July 24, 2020, the ministry heard from a variety of stakeholders that corporations require an extension of the expiry date of temporary legislative provisions that were put in place to enable certain corporations to call and hold virtual meetings, notwithstanding certain restrictions or requirements in statute or a corporation's governing documents. The temporary legislative provisions were made effective during a "temporary suspension period" only, defined as the period of the emergency and a 120-day period following the termination of the declared emergency, plus any additional periods as established by regulation. These temporary amendments were made in 2020 to the Business Corporations Act, the Corporations Act, the Co-operative Corporations Act, and the Condominium Act, 1998. Similar amendments were subsequently made to ONCA in 2021 which came into force on October 19, 2021 when the Act was proclaimed into force.

The effective date of the temporary amendments to the OBCA, CA, CCA and Condo Act have been extended three times and for ONCA they have been extended once. These amending regulations further extend the effective period of the temporary legislative provisions related to virtual meetings until September 30, 2023.
Contact Address:
Policy, Planning and Oversight Division
6th Flr, 56 Wellesley St. W.
Toronto, ON
M7A 1C1
Effective Date:
August 25, 2022
Decision:
Approved

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