COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and SOCIETY ACT, R.S.B.C. 1996, Chapter 433* * These materials provide general background information only, and are not intended as a substitute for legal advice. Fall 2015 Societies Act, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433 Section 1: Definitions s. 1 Section 2: Purposes s. 2 (1) Section 3: No share capital s. 8 Section 4: Restrictions on distributions s. 2 (2) Section 5: Liability of members s. 5 Section 6: Capacity and powers of society s. 4(1)(d), 4(2) and (3) Section 7: Restricted activities and powers New. Based on BCA s. 33 Section 8: Persons may rely on authority of societies and directors, senior managers and agents s. 24 (3). Additions based on BCA s. 146 Section 9: Name ss. 3 (3) (c) and (6), and 13 Section 10: Constitution s. 22 Section 11: Bylaws s. 6 Section 12: Statement of directors and registered office s. 3 (1)(a)(ii), (iii) Section 13: Application for incorporation s. 3 (1) Section 14: Incorporation s. 3 (4) – (5) Section 15: Alterations to constitution s. 20 Section 16: Effect of change of name s. 21 Section 17: Alterations to bylaws s. 23 Section 18: Registered office s. 10 (1) (a) Section 19: Change of registered office s. 10 (1) (b) and (2)
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, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433 · COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and SOCIETY ACT, R.S.B.C. 1996, Chapter 433* * These materials provide
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COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and SOCIETY ACT, R.S.B.C. 1996, Chapter 433*
* These materials provide general background information only, and are not intended as a substitute for
legal advice.
Fall 2015
Societies Act, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433
Section 1: Definitions s. 1
Section 2: Purposes s. 2 (1)
Section 3: No share capital s. 8
Section 4: Restrictions on distributions s. 2 (2)
Section 5: Liability of members s. 5
Section 6: Capacity and powers of society s. 4(1)(d), 4(2) and (3)
Section 7: Restricted activities and powers New. Based on BCA s. 33
Section 8: Persons may rely on authority of
societies and directors, senior managers and
agents
s. 24 (3). Additions based on BCA s. 146
Section 9: Name ss. 3 (3) (c) and (6), and 13
Section 10: Constitution s. 22
Section 11: Bylaws s. 6
Section 12: Statement of directors and
registered office
s. 3 (1)(a)(ii), (iii)
Section 13: Application for incorporation s. 3 (1)
Section 14: Incorporation s. 3 (4) – (5)
Section 15: Alterations to constitution s. 20
Section 16: Effect of change of name s. 21
Section 17: Alterations to bylaws s. 23
Section 18: Registered office s. 10 (1) (a)
Section 19: Change of registered office s. 10 (1) (b) and (2)
COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and
SOCIETY ACT, R.S.B.C. 1996, Chapter 433
Societies Act, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433
Section 20: Records to be kept ss. 11, 36 and 70
Section 21: Old records need not be kept New
Section 22: Location of records s. 11
Section 23: Maintenance of records New. Based on BCA s. 44
Section 24: Inspection of records s. 37
Section 25: Inspection of register of members
may be restricted
New
Section 26: Inspection of register of directors New
Section 27: Copies of records ss. 39 (3) and 69
Section 28: Copies of financial statements s. 95 (3) – (5)
Section 29: How record is sent New
Section 30: How record is delivered New
Section 31: When society receives record New
Section 32: How record is served on society s. 12
Section 33: Investment of society’s funds s. 32
Section 34: Borrowing and issuance of
securities
s. 35 (3)
Section 35: Financial statements S. 64
Section 36: Reporting on remuneration of
directors, employees and contractors
New
Section 37: Reporting on financial assistance New
Section 38: Issuance of financial statements s. 40
COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and
SOCIETY ACT, R.S.B.C. 1996, Chapter 433
Societies Act, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433
Section 39: Copies of financial statements of
subsidiaries
s. 39 (4)
Section 40: Number and residency of directors s. 24 (4) – (5)
Section 41: Employment of directors New
Section 42: Designation, election and
appointment of directors
s. 24 (1) and (6)
Section 43: Directors must be qualified New. Based on BCA s. 124
Section 44: Persons qualified to be directors New. Based on BCA s. 124
Section 45: Additional qualifications of
directors
New
Section 46: Remuneration and reimbursement
of directors
New
Section 47: Validity of acts of directors New. Based on BCA s. 143
Section 48: When director ceases to hold
office
New. Based on BCA s. 128
Section 49: Resignation of directors New. Based on BCA s. 128
Section 50: Removal of directors s. 31
Section 51: Registry filings respecting
directors
s. 24 (7)
Section 52: Functions of directors s. 24 (2)
Section 53: Duties of directors ss. 25 – 26
Section 54: Proceedings of directors s. 25.1
Section 55: Application of this Act to persons
performing functions of director
New. Based on BCA s. 138
COMPARISON of SOCIETIES ACT, S.B.C. 2015, Chapter 18 and
SOCIETY ACT, R.S.B.C. 1996, Chapter 433
Societies Act, S.B.C. 2015, c. 18 Society Act, R.S.B.C. 1996, c. 433
Section 56: Disclosure of director’s interest s. 27
Section 57: Accountability s. 28
Section 58: Validity of contracts s. 29
Section 59: Directors’ liability for money or
other property distributed
New. Based on BCA ss. 154 and 156
Section 60: Limitations on liability New. Based on BCA s. 157