Province reviews society act

  • Dec. 21, 2009 7:00 a.m.

The Province is embarking on a review of British Columbia’s Society Act to modernize and update the statute that provides rules for the registration and governance of not-for-profit organizations, Finance Minister Colin Hansen announced today. “As part of the review, we’re inviting input from the more than 26,000 societies registered in B.C.,” said Hansen. “. Their feedback will help determine what changes need to be made.” Although the Society Act has occasionally been amended, it’s outdated and in need of revision. There has been no comprehensive revision since 1977. Other corporate statutes have been completely rewritten within the last decade. The review will address two fundamental structural questions. The first concerns the nature of the corporate model most appropriate for societies and whether a sophisticated business law framework should be adopted. The second concerns the extent to which the act should contain rules that constrain the operation of societies. The deadline for feedback on the first phase of the review is April 1. Provide comments as follows: Email: fcsp@gov.bc.caMail: Corporate Sector Policy Branch, Ministry of FinancePO Box 9418 Stn Prov GovtVictoria, BC V8W 9V1Phone: 250 387-1269