Order in Council 1603/2023

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:

Pursuant to subsection 6(6) of a regulation to create the Ontario Infrastructure Bank corporation made under the Development Corporations Act, and subsection 76(2) of the Legislation Act, 2006 (the “Regulation”),

Directors’ remuneration

1. The directors of the Ontario Infrastructure Bank (the “Corporation”), other than the chair and the vice-chair, shall each be compensated at the rate of $200 per day.
2. The chair of the Corporation shall be compensated at the rate of $350 per day.
3. The vice-chair of the Corporation shall be compensated at the rate of $250 per day.

Expenses

4. The directors shall be reimbursed for work-related expenses incurred while engaged in the business of the Corporation in accordance with the Travel, Meal and Hospitality Expenses Directive and any other Treasury Board and Management Board of Cabinet directives.

This Order shall come into effect on the latter of the day the Regulation comes into force and the day that this order is made.