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The Societies Act comes into force November 28, 2016. While many provisions include a grace period during which existing societies can adapt, some changes take effect immediately, among them:
- New procedures related to meetings, such as proxy voting, written consent to resolutions, and voting thresholds, unless contradicted by existing bylaw.
- A prohibition on altering bylaws before transitioning to new requirements.
- New standards pertaining to directors, including liability, qualification, election, term, resignation, removal, and remuneration.
- Creation of a ‘Senior Manager’ position, appointed by directors to exercise their authority to manage activities and internal affairs.
- Format and content requirements for records, including reporting of remuneration of staff and directors, and financial assistance received, with the ability to restrict member and public access via directors’ resolution and bylaw respectively.
- Expanded borrowing and investment powers of directors.
- The ability of members to apply to court for remedies if a society’s activities are oppressive or unfairly prejudicial.
We can help you review your society’s existing constitution and bylaws and start planning how you will adapt them to the new Act.