Order in Council 1537/2023

On the recommendation of the undersigned, the Lieutenant Governor of Ontario, by and with the advice and concurrence of the Executive Council of Ontario, orders that:

Whereas Order in Council 771/2002 made March 6, 2002, as amended by Order in Council 1278/2017 made June 28, 2017 authorizes certain agreements to be entered into on behalf of Ontario and the Ontario Financing Authority with respect to the establishment, governance, funding and management of segregated funds for the funding of the costs of decommissioning and the management and disposal of nuclear waste (including used fuel) produced by certain stations and other facilities owned or operated by Ontario Power Generation Inc. and certain of its subsidiaries, as set out in the Order in Council;

And whereas it is desirable to further amend Order in Council 771/2002 to update the authorized signatories for certain agreements, and to revoke Order in Council 1278/2017;

Therefore, pursuant to the prerogative of His Majesty the King in right of Ontario:

1. Paragraph 2 of Order in Council 771/2002, as amended by Order in Council 1278/2017, is deleted and replaced with the following:

   “2. (a) The Minister of Finance, the Deputy Minister of Finance or the Chief Executive Officer of the Ontario Financing Authority, on behalf of Ontario, or

   (b) the Chair, the Chief Executive Officer, the Executive Director and Chief Investment Officer, Capital Markets Division, or any Director, Capital Markets Division, all of the Ontario Financing Authority, on behalf of the Ontario Financing Authority,

   is authorized to enter into any custodial, trust, agency, management or other agreements related to the agreement authorized by paragraph 1 hereof that such designated signatory considers to be necessary or desirable, all on such terms and conditions as such designated signatory may determine. An authorization made in this paragraph extends to each person from time to time holding an acting appointment to a position whose regular occupant is authorized to enter into an agreement by this paragraph.”

2. Order in Council 1278/2017 made June 28, 2017 is revoked.

And that this Order in Council is effective on the date it is made.