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O. Reg. 218/22: SECTION 28 EXEMPTIONS - CERTAIN TRADE SHOW AGREEMENTS
filed March 17, 2022 under Financial Administration Act, R.S.O. 1990, c. F.12
Skip to contentontario regulation 218/22
made under the
Financial Administration Act
Made: March 9, 2022
Filed: March 17, 2022
Published on e-Laws: March 17, 2022
Printed in The Ontario Gazette: April 2, 2022
SECTION 28 EXEMPTIONS - CERTAIN TRADE SHOW AGREEMENTS
Definition
1. In this Regulation,
“trade show agreement” means an agreement to participate in a trade show as an exhibitor.
Trade show agreements
2. A financial arrangement, financial commitment, guarantee, indemnity or similar transaction contained in a trade show agreement entered into by a ministry or public entity is exempt from the application of subsection 28 (1) of the Act if the following conditions are met:
1. The trade show agreement is entered into within three years from the day this Regulation comes into force.
2. The trade show agreement does not require the ministry or public entity to indemnify another person in respect of that person’s negligence or wilful misconduct.
Terms and conditions
3. The following terms and conditions apply in relation to an exemption under section 2:
1. The ministry or public entity shall report on transactions exempted under section 2 to the Treasury Board Secretariat on a quarterly basis and the reports must include the following information:
i. Details of any exempted transactions as of the date of the report.
ii. A description of any anticipated risks associated with the exempted transactions.
iii. A description of any liabilities that were incurred in connection with the exempted transactions and the actual amount of any such liabilities.
2. The ministry or public entity shall manage any liabilities incurred in connection with a transaction exempted under section 2 from within its existing funds and may not request that the Treasury Board authorize supplementary expenditures under section 1.0.8 of the Act in respect of an exempted transaction.
Commencement
4. This Regulation comes into force on the day it is filed.
Made by:
Pris par :
Le président du Conseil du Trésor,
Prabmeet Singh Sarkaria
President of the Treasury Board
Date made: March 9, 2022
Pris le : 9 mars 2022