Bill 24 - The New British Columbia Societies Act
B.C’s Minister of Finance Michael De Jong recently announced a new Bill 24, the Societies Act, to the British Columbia legislature back in March 2015. Since then it has received its third reading, and if passed it is anticipated that the new Societies Act will come into force in approximately 18 months after receiving royal consent.
The new Societies Act is intended to:
- Replace the current Societies Act, which currently governs over 27,000 not-for-profit legal entities in British Columbia.
- Provide greater flexibility to the internal governance of not-for-profit organizations
- Enhance accountability measures amongst charities & publicly funded societies
- Implement new corporate procedures
- Distinguish between publicly funded societies & member-funded societies
More details about Bill 24 - Societies Act
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