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Difference between revisions of "Preparing for Transition under the New Societies Act"
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Preparing for Transition under the New Societies Act (view source)
Revision as of 15:49, 30 November 2016
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You can [https://www.bcregistryallservices.gov.bc.ca/sofi/sofi.htm?_flowId=society/requestTransitionPackage&filingType=STRPF order a transition package online]. | You can [https://www.bcregistryallservices.gov.bc.ca/sofi/sofi.htm?_flowId=society/requestTransitionPackage&filingType=STRPF order a transition package online]. | ||
==Step 1: Consider | ==Step 1: Consider member-funded society status== | ||
On transition, a society will be asked whether it wishes to designate itself as a '''member-funded society'''. A member-funded society is one that is funded primarily by its members to carry on activities for the benefit of its members. | On transition, a society will be asked whether it wishes to designate itself as a '''member-funded society'''. A member-funded society is one that is funded primarily by its members to carry on activities for the benefit of its members. | ||
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See the section "[[What the New Societies Act Means for Existing Societies#You need to decide whether to become a member-funded society|You will need to decide whether to become a member-funded society]]" for the issues to consider in whether to become a member-funded society. | See the section "[[What the New Societies Act Means for Existing Societies#You need to decide whether to become a member-funded society|You will need to decide whether to become a member-funded society]]" for the issues to consider in whether to become a member-funded society. | ||
==Step 2: | ==Step 2: Update Corporate Registry filings== | ||
Ensure the society is up-to-date in its annual report filings with the Corporate Registry. If annual reports are outstanding, the society will not be able to transition. | Ensure the society is up-to-date in its annual report filings with the Corporate Registry. If annual reports are outstanding, the society will not be able to transition. | ||
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}} | }} | ||
==Step 3: Prepare | ==Step 3: Prepare society’s constitution== | ||
To file the transition application, you will need to submit an electronic version of the society’s constitution, with these modifications: | To file the transition application, you will need to submit an electronic version of the society’s constitution, with these modifications: | ||
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<blockquote>This society is a member-funded society. It is funded primarily by its members to carry on activities for the benefit of its members. On its liquidation or dissolution, this society may distribute its money and other property to its members.</blockquote> | <blockquote>This society is a member-funded society. It is funded primarily by its members to carry on activities for the benefit of its members. On its liquidation or dissolution, this society may distribute its money and other property to its members.</blockquote> | ||
==Step 4: Prepare | ==Step 4: Prepare society’s consolidated bylaws== | ||
To file the transition application, you will need to submit a single, consolidated set of the society’s bylaws in electronic form. In other words, you must create one document that reflects the original bylaws as well as all subsequent amendments to the bylaws filed with the Corporate Registry. | To file the transition application, you will need to submit a single, consolidated set of the society’s bylaws in electronic form. In other words, you must create one document that reflects the original bylaws as well as all subsequent amendments to the bylaws filed with the Corporate Registry. | ||
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A reporting society under the old ''Society Act'' must include these provisions without alteration in the bylaws filed with the transition application. Once the provisions have been included in a society’s bylaws on transition, they can be altered like any other bylaw. | A reporting society under the old ''Society Act'' must include these provisions without alteration in the bylaws filed with the transition application. Once the provisions have been included in a society’s bylaws on transition, they can be altered like any other bylaw. | ||
==Step 5: Review | ==Step 5: Review society’s bylaws== | ||
A society that rearranges its constitution and prepares consolidated bylaws as outlined above '''without''' any other amendments can proceed directly to file the transition application. The society does not require member approval and '''can proceed with the transition without holding a general meeting of members.''' | A society that rearranges its constitution and prepares consolidated bylaws as outlined above '''without''' any other amendments can proceed directly to file the transition application. The society does not require member approval and '''can proceed with the transition without holding a general meeting of members.''' | ||