Order in Council 1771/2016

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 the Ontario Retirement Pension Plan Administration Corporation Act, 2015 (the “Act”) came into force on November 19, 2015;

And Whereas pursuant to section 12 of the Act, the Lieutenant Governor in Council may at pleasure appoint persons to be members of the initial board of directors of the Ontario Retirement Pension Plan Administration Corporation (“Initial Board”);

And Whereas by Order in Council No. O.C. 897/2015, remuneration was set for Initial Board members;

And Whereas on June 20, 2016 an agreement in principle (the “Agreement in Principle”) to enhance the Canada Pension Plan was reached between the Ministers of Finance of Canada and certain provinces;

And Whereas by Order in Council No. 1085/2016, the Agreement in Principle was approved by the Government of Ontario;

And Whereas as a result of the approval of the Agreement in Principle by Ontario and other Governments, the Government of Ontario no longer wishes to proceed with the Ontario Retirement Pension Plan and intends that the Ontario Retirement Pension Plan Administration Corporation be wound up and dissolved;

And Whereas the Government of Ontario wishes to revoke Order in Council No. O.C. 897/2015;

Therefore, pursuant to section 12 of the Act, Order in Council No. O.C. 897/2015 be revoked effective November 19, 2016.