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O. Reg. 148/24: ENTITIES NOT PERMITTED TO HOLD CERTAIN PROPERTY AND INTERESTS (SECTION 11.0.1 OF THE ACT)
filed March 27, 2024 under Ministry of Infrastructure Act, 2011, S.O. 2011, c. 9, Sched. 27
Skip to contentontario regulation 148/24
made under the
Ministry of Infrastructure Act, 2011
Made: March 26, 2024
Filed: March 27, 2024
Published on e-Laws: March 27, 2024
Published in The Ontario Gazette: April 13, 2024
Entities Not permitted to hold certain Property and interests (section 11.0.1 of the Act)
Definition
1. In this Regulation,
“prescribed entity” means an entity listed in section 2.
Prescribed entities
2. Section 11.0.1 of the Act applies with respect to the following entities:
1. AgriCorp.
2. Education Quality and Accountability Office.
3. Financial Services Regulatory Authority of Ontario.
4. Fire Marshal’s Public Fire Safety Council.
5. Higher Education Quality Council of Ontario.
6. Human Rights Legal Support Centre.
7. Intellectual Property Ontario.
8. Ontario Financing Authority.
9. Ontario Media Development Corporation.
10. Ontario Securities Commission.
11. Ontario Tourism Marketing Partnership Corporation.
12. Ontario Trillium Foundation.
13. Province of Ontario Council for the Arts.
14. Skilled Trades Ontario.
Exceptions, interpretation
3. For greater certainty, an exception set out in this Regulation shall not be read as permitting a prescribed entity to,
(a) lease office space for its own use and occupation; or
(b) sublet office space to another person or entity.
Exceptions re trade fixtures and leasehold improvements
4. Subsections 11.0.1 (2) and (3) of the Act do not apply with respect to trade fixtures, leasehold improvements or any interests in either that are held, controlled or acquired by a prescribed entity.
Exceptions re certain regulatory functions
5. (1) In this section,
“decision” includes an order, ruling, decision, direction, judgment or any other exercise of a statutory power of decision.
(2) Subsections 11.0.1 (2) and (3) of the Act do not apply with respect to the holding, control or acquisition by a prescribed entity of any land, buildings or structures, interests in land, buildings or structures or fixtures or interests in fixtures installed or placed in or used in connection with land, buildings or structures, if the holding, control or acquisition is undertaken for the enforcement or implementation of a decision made under an Act listed in subsection (3) or of the enforcement of or compliance with any requirement under such an Act.
(3) Subsection (2) applies in respect of the following Acts:
1. Automobile Insurance Rate Stabilization Act, 2003.
2. Commodity Futures Act.
3. Compulsory Automobile Insurance Act.
4. Credit Unions and Caisses Populaires Act, 2020.
5. Insurance Act.
6. Mortgage Brokerages, Lenders and Administrators Act, 2006.
7. Pension Benefits Act.
8. Securities Act.
Exception re Ontario Financing Authority investments
6. Subsections 11.0.1 (2) and (3) of the Act do not prevent or restrict the Ontario Financing Authority from holding, controlling or making financial investments.
Commencement
7. This Regulation comes into force on the later of the day section 2 of Schedule 2 to the Reducing Inefficiencies Act (Infrastructure Statute Law Amendments), 2023 comes into force and the day this Regulation is filed.
Made by:
Pris par :
La ministre de l'Infrastructure,
Kinga Surma
Minister of Infrastructure
Date made: March 26, 2024
Pris le : 26 mars 2024