The legislation makes sweeping changes to the law governing societies6. To name a few of the biggest changes, the Societies Act:
- Distinguishes between member-funded and publicly-funded societies
- Publicly funded societies and charities will be subject to increased requirements, and member-funded societies will have their regulatory burden reduced7.
- A member-funded society is a type of special society “funded primarily by its members to carry on activities for the benefit of its members.”
- Introduces mandatory online filing for incorporations, bylaw changes and other filing at the corporate registry
- Existing societies will have to upload their constitution and bylaws in digital format when they transition.
- Currently, the online online filing available is for annual reports.