Apr 07, 2025 | Andrea Maillet | 109 views
ONCA Notice of Special Member Meeting
Notice of Special Member Meeting – Tuesday April 15 at 6:30pm, Palasad SocialBowl. NLSA is an incorporated not-for-profit in Ontario. Previously not-for-profit corporations were governed under the Corporations Act which has now been replaced with the Ontario Not-for-Profit Corporations Act (ONCA).
ONCA is a modern regulatory regime not-for-profit corporations. ONCA aims to enhance corporate governance, transparency, and accountability, while increasing efficiency, enhancing rights of members, and increasing protection for directors and officers, NLSA is required to replace the existing Letters Patent with Articles of Amendment, and ensure our By-Laws are complaint with the new legislation. With the assistance of legal counsel, the Board of Directors have put together the Articles of Amendment and By-Laws for our members to vote on for approval.
Articles of Amendment: In order to comply with the newly enacted Ontario Not For Profit Corporations Act, NLSA must file Articles of Amendment. With the assistance of legal counsel, the Board of Directors have created the draft articles at the link provided below. The resolution to be voted on will be as follows: “The articles of NLSA are hereby amended to the form presented to the voting members, and the directors and officers or any one of them are authorized to sign and file such articles with the proper authorities”
By-Laws: The Board of Directors have created the draft by-laws to comply with the Ontario Not for Profit Corporations Act. The from of the by-laws is available at the link provided below. The resolution to be voted on will be as follows: "The general operating by-law of NLSA is repealed and the new general by-law No. 3 which has been submitted to Members for approval"
Public Benefit Corporation: For the last several fiscal years and the foreseeable future, NLSA is not considered a public benefit corporation. The resolution to be voted on will be as follows: " As NLSA is not a public benefit corporation, a resolution to not appoint an auditor and to not have an audit or a review engagement in respect of NLSA's current fiscal year"