The Cutting Unnecessary Red Tape Act, 2017 received Royal Assent on November 15, 2017, although much of it is not yet in force.
unproclaimed Not-for-Profit Corporations Act, 2010.
Unnecessary Red Tape Act, 2017, fills an existing gap in the OBCA shareholder
proposal regime, makes several of the pending amendments under the ONCA
available to not-for-profit (‘‘NFP’’) corporations formed under Part III of the
OCA even before the ONCA is proclaimed in force, and generally takes a critical
step forward in setting the stage for the ONCA to eventually replace the OCA. It also includes
measures that promise to reduce undue burdens on small businesses when
introducing or amending regulations, increases harmonization with other
jurisdictions and expands the availability of electronic filing options.