If you are transitioning a society on your own, the process is quite simple. This post details the barebones process for transition of a non-member-funded society.
Category: Transition
What happens if you fail to transition as a member funded society?
On transition, a pre-exiting society which qualifies may become a “member funded society”, a special type of society which is not subject to the reporting, disclosure, and winding up requirements of a typical society. Many societies, particularly closely-held societies, will want this status. It is obtained by adding a statement to the society’s constitution at the time of filing a transition application with the BC Corporate Registry. But if that deadline is missed, an application to the court is necessary. The particular phrasing of the section is unclear, as is…
Transition: What to know now
As of November 28, 2016, current and extra-provincially registered societies must “transition” to the new Societies Act. Don’t panic! There’s lots of time: transition does not need to be completed until November 28, 2018. This article provides the basics of who needs to transition, what they should be doing now, and what needs to be done on transition.