Further to last week’s post, the following sets out the immediate impact of the Societies Act (the “Act”) on existing BC societies and what is require to transition to the Act.
The Act, with a few noted exceptions therein, will apply to all BC societies on the day it comes into force, being November 28, 2016, and each society will be required to immediately comply and govern itself in accordance with the Act. Further, any provisions in a society’s bylaws that are inconsistent with the Act will no longer have any effect as of November 28, 2016. This will be true regardless of whether a society has transitioned to the Act or not. All BC societies however, will need to transition to the Act within two years of the Act coming into force. Continue reading