Co-operative Legislation


Co-operative corporations are an important part of Ontario’s economy and serve the needs of their members in communities across the province.   

Ontario's non-financial co-operatives are regulated by the Ontario Co-operative Corporations Act. As of April 1, 2019, the administration and regulation of co-operatives falls under the Financial Securities Regulatory Authority of Ontario (FSRA). The now defunct Financial Services Commission of Ontario (FSCO) administered the Act and registered organizations conducting business as a co-operative under the Act prior to this time. 

The Act came into force in 1974, and has never been subject to a full legislative review. As a result, the legislation has not kept pace with other business statutes in Ontario. It requires modernization to more accurately reflect the current economic climate of co-operatives in Ontario. For this reason, OCA and CCO have been lobbying the Ontario government to review and update the legislation affecting non-financial co-operatives for at least 15 years. In late 2019, we received a commitment from the Province to conduct a full review of the Act, and to update the audit requirements and the 50% Rule requirement! We will be working closely with our government counterparts to see this commitment through to fruition and continue to prioritize increased Offering Statement exemption limits. 

Read our 2023 Pre-Budget Submission to the Ministry of Finance’s 2023 Ontario Budget Consultation.

Learn more on the status of our recommendations.