Changes to Ontario’s Co-operative Corporations Act
Published December 05, 2019
Over the last year the Ontario Co-operative Association (OCA) has been advocating for changes to the Co-operative Corporations Act (CCA). Although these changes don’t apply to housing co-ops, CHF Canada has been supportive of these efforts that would strengthen the larger co-operative sector.
As part of the Fall Economic Statement, the Ontario government introduced some proposed changes to the CCA, which if passed, will allow the possibility, provided the co-ops bylaws authorize it, to conduct 50% or more of its business with non-members.
In addition the legislation made updates to the audit rules. It’s important to note that none of these changes impact housing co-ops. To ensure transparency housing co-ops will continue to be required to provide audited statements.
CHF Canada welcomes the Ontario government’s commitments to modernize the Co-operative Corporation Act (OCA). CHF Canada looks forward to working with the province to help promote the co-op sector.
If you have any questions on the proposed changes to the CCA please contact CHF Canada’s Manager, Government Relations Scott Parry at email@example.com or call 1 800 268 2537 x801.
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