On April 6, 2021, Ontario passed Regulation 251/21 under the Corporations Act, further extending the temporary legislative provisions permitting Ontario not-for-profit Corporations to hold Member, Board and Board Committee meetings electronically from May 31, 2021 until December 31, 2021.
These changes were originally introduced in May 2020 and further extended in October 2020. With the further extension, corporations governed by the Corporations Act may continue to hold meetings virtually until December 31, 2021, notwithstanding any existing restrictions in their by-laws or letters patent. This enables Ontario not-for-profit corporations to continue to safely carry on governance meetings during COVID-19, including Annual General Meetings that will be upcoming for many corporations in the coming months.
The Ministry of Government and Consumer Services has been engaged in consultation on whether further temporary or permanent amendments are needed under certain business law statutes in relation to virtual processes as corporations adapt to new ways of operating, and is currently reviewing feedback from the consultation process.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
