2010 Ontario Co-operative Consultation
From November 1, 2010 to January 31, 2011, On Co-op gathered opinions from the Ontario co-operative sector on proposed changes to the Co-operative Corporations Act though its Co-operative Consultation. Specifically, this consultation addressed two proposed amendments: Par Value and the 50% rule.
During March, 2011, co-ops, credit unions, regulators, stakeholders and affiliates were invited to attend one of three focus groups held in person in Ottawa, Toronto and Guelph. The goal of these focus groups was to connect co-operatives from different sectors, educate them on two issues (the 50% rule and Par Value Preference Shares), share the consultation findings with them, discuss how each co-operative feels about the finding and collectively decide on the implications to the co-operative sector as a whole.The Toronto group was also broadcast live as a webinar.
More than 50 people participated in the focus groups, representing most of the major co-op sectors in Ontario. On Co-op prepared a final report on this consultation (available at top right under downloads), which was reviewed by our Board of Directors. The Regs and Legs Committee presented their recommendation-- to keep both the Par Value Preference share structure and the "50% Rule"-- at the On Co-op AGM that year.