Order in Council 1738/2024

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 pursuant to subsection 17(1) of the Building Ontario Fund Act, 2024, the Lieutenant Governor in Council may authorize the Minister of Finance to make advances to the Building Ontario Fund in such amounts as may be specified by the Lieutenant Governor in Council and at such times and on such terms and conditions at the Minister of Finance considers expedient;

And whereas for the purpose of carrying out its objects it is now considered necessary to authorize the Minister of Finance to make advances to the Building Ontario Fund, from time to time, in the manner provided for in the Building Ontario Fund Act,2024 in an aggregate amount not exceeding Three Billion Dollars ($3,000,000,000.00) in lawful money of Canada;

Therefore:

1. Pursuant to subsection 17(1) of the Building Ontario Fund Act, 2024, the Minister of Finance is authorized to make advances to the Building Ontario Fund in an aggregate amount not to exceed Three Billion Dollars ($3,000,000,000.00) in lawful money of Canada.
2. The advances authorized in paragraph 1 of this Order shall be made at such times and on such terms and conditions as the Minister of Finance considers expedient.