Order in Council 554/2025

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 23(2) of the Ontario Infrastructure and Lands Corporation Act, 2011, the Lieutenant Governor in Council may by order authorize the Minister of Finance to purchase securities of or make loans to Ontario Infrastructure and Lands Corporation (“Corporation”) in the amounts, at the times and on the terms as the Minister of Finance may determine, subject to the maximum principal amount specified by the Lieutenant Governor in Council;

Therefore,

1. Pursuant to subsection 23(2) of the Ontario Infrastructure and Lands Corporation Act, 2011, the Minister of Finance is authorized to make loans of up to a maximum aggregate principal amount not exceeding $5,000,000,000 in lawful money of Canada to the Corporation on the terms as the Minister of Finance may determine.
2. Pursuant to subsection 23(4) of the Ontario Infrastructure and Lands Corporation Act, 2011, the powers of the Minister of Finance under subsection 23(2) of the Ontario Infrastructure and Lands Corporation Act, 2011 to determine the terms and conditions of the loans to the Corporation are delegated to each of the Chief Executive Officer, the Chief Treasury and Investment Officer, the Chief Financial Officer, any Director, Capital Markets Division, any Senior Manager, Capital Markets Division, and the Director, Treasury and Capital Markets Operations, Finance and Treasury Division, all of the Ontario Financing Authority, holding office on the date of this Order or on any day thereafter.
3. If the title of the position to which powers and duties have been delegated changes, the delegation made in this Order continues to be in effect on condition that the delegated powers and duties continue to be within the scope of the position.
4. Each delegation made in this Order extends to each person from time to time holding an acting appointment to a position whose regular occupant is entitled to exercise the delegated authority.