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Bill C-62 - Canada Not-for-Profit Corporations Act
June 13, 2025

The Honourable Diane Ablonczy, Secretary of State (Small Business and Tourism), introduced the Canada Not-For-Profit Corporations Act, which would significantly modernize Canada's not-for-profit legislation for the first time since 1917. The bill [C-62] is an important part of the Government of Canada's aim of reducing the paperwork burden for businesses.

The proposed Canada Not-For-Profit Corporations Act will enable organizations to incorporate faster and improve their financial accountability, clarify the roles and responsibilities of directors and officers, and enhance the protection of members' rights.

Bill C-62 (First Reading) - Canada Not-for-profit Corporations Act (this is not yet law):

http://www2.parl.gc.ca/HousePublications/Publication.aspx?DocId=3575844

The proposed Canada Not-for-Profit Corporations Act (NFPC) is modeled on the Canada Business Corporations Act (CBCA), one of the most modern corporate statutes in Canada for corporations with shares. The NFPC also benefited from the administrative policies developed under the CCA. The new NFPC contains leading edge provisions and will be modern framework legislation.

http://www.ic.gc.ca/epic/site/cd-dgc.nsf/en/cs02683e.html

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