Consultations: Consultation on the 2018 legislative review of the Co-operative Corporations Act

Purpose of this Consultation

The government is inviting people to share their feedback about how to make it easier for co-operative corporations (“co-ops”) to do business in Ontario.

You can read the entire consultation paper here.

Context

The Co-operative Corporations Act (CCA), which sets the rules for how Ontario co-ops operate, came into force in 1974 and has not been kept up to date.

In conducting the first ever review of the CCA, the government is looking to modernize the legislation, find efficiencies and cut red tape so that co‐ops can compete and better meet the needs of their members.

Consultation topics

The government is asking for your input on:

  • Improving the business environment for co-ops: We want to hear about how the government can make it easier for co-ops to do business in Ontario.
  • Co-op governance: Tell us about how co-ops could be better enabled to self-govern while reducing red tape in the sector.
  • Administration and oversight: Share your views on which government body should be responsible for administering the CCA.
  • The “50 per cent rule”: Currently co-ops cannot do more than 50 per cent of their business with non-members. Share your views on whether this rule should be changed.
  • Audit requirements: Tell us whether co-op audit requirements should be the same as those in place for other business types in Ontario.
  • Raising capital: We want to hear your views on whether the rules for raising capital for co-ops should remain different than the rules for other types of businesses in Ontario.

Privacy

Comments and supporting materials, or submission summaries, could be disclosed to other interested parties during and after the consultation. The collection, use and disclosure of information are subject to the Freedom of Information and Protection of Privacy Act.

Written Submissions

Please provide your written submissions by January 31, 2019 to:

CCA Legislative Review
c/o Financial Services Policy Division
Ministry of Finance
95 Grosvenor Street, Frost Building North, 4th Floor
Toronto, ON  M7A 1Z1

Email: Jessica.Harper@ontario.ca

If you have any questions about this consultation or how your submission may be used or disclosed, please contact Jessica Harper, Senior Policy Advisor by phone at 416-325-5790 or by email: Jessica.Harper@ontario.ca