The Non-profit Corporations Amendment Act, 2005

Amendments to The Non-profit Corporations Act, 1995 were passed in the spring 2005 session of the Legislature. The amendments:

• Increase the threshold for annual revenues below which charitable corporations may dispense with the appointment of an auditor or qualified person to review their financial statements;
• Change the voting requirements for resolutions to waive audits or financial reviews;
• Amend the "resident Canadian" provisions to coincide with the provisions under The Business Corporations Act; and
• Remove the relocation of a non-profit corporation's registered office to another municipality as a fundamental change requiring an amendment to the articles of the corporation.

The Non-profit Corporations Regulations are also amended to:

• Prescribe the qualifications for auditors and individuals conducting review engagements for non-profit corporations;
• Prescribe the contents of audit and review engagement reports;
• Outline the manner in which corporations and shareholders can communicate via electronic means such as e-mail; and
• Update the forms.