According to British Columbia's Ministry of Finance, there are over 27,000 societies in B.C. that vary significantly in both size and purpose. An updated Societies Act (British Columbia) came into force on November 28, 2016 and was canvassed in an earlier Business Blog post that can be found here.
Over the past two-and-a-half years, the government has been monitoring the roll-out of the updated Societies Act and based on the feedback received from societies, the legal community and the public, BC's Ministry of Finance has developed proposed amendments to the Act to address some of the issues identified during that review and consultation.
Take note - these new developments in the Societies Act will likely mean related amendments to British Columbia's Business Corporations Act and Cooperative Association Act since, while these corporate governance acts are unique, they both have similarities with respect to director and member/shareholder roles and Corporate Registry filings.
A Table Summary of the proposed amendments can be found here. The anticipated purpose of the proposed amendments are to:
maintain and enhance the user-friendliness of the Societies Act;
address ambiguities, omissions and inconsistencies within the Societies Act; and other legislation
streamline, update and refine processes, and
remove unnecessarily burdensome Corporate Registry filing requirements
The Ministry of Finance has invited societies, their members, the legal community and the public with an opportunity to review and to comment specifically on the amendments listed in the Appendix (PDF). The deadline for feedback is August 23, 2019.
Endeavor Law can assist on all aspects of the formation and governance of British Columbia societies as well as attending to Corporate Registry filing requirements and general legal advice. Endeavor Law will always seek to provide competitive pricing for any legal services requested and is pleased to discuss fee arrangements that suit any potential client.
Does not constitute legal or other advice and must not be used as a substitute for legal advice from a qualified legal professional in your jurisdiction who has been fully informed of your specific circumstances. Information may not be up-dated subsequent to its initial publication and may therefore be out of date at the time it is read or viewed. Always consult a qualified legal professional in your jurisdiction.