OCBA - Prescribed association

Prescribed association

The Act uses the term “incorporated association” to refer to all associations incorporated under the Act. It also uses the term “prescribed association”.

As a general description a prescribed association is one with gross receipts, excluding members subscriptions, in excess of $500,000 per annum. The definitions of the terms “prescribed association” and “gross receipts” are contained in Section 3 of the Act.

Some examples of receipts that are included in the aggregation of gross receipts are government grants, gross receipts from any activities (and not merely the net profits) and gate takings for entrance fees.

In general, there are additional requirements imposed on prescribed associations than on other incorporated associations.

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