Order in Council 636/2025

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 17(1) of the Building Ontario Fund Act, 2024 (the “Act”), 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;

Whereas pursuant to Order in Council 1738/2024, the Lieutenant Governor in Council authorized the Minister of Finance to make advances to the Building Ontario Fund in an aggregate amount not exceeding Three Billion Dollars ($3,000,000,000.00) in lawful money of Canada.

And whereas for the purpose of carrying out its objects it is now considered necessary to authorize the Minister of Finance to make additional advances to the Building Ontario Fund, from time to time, in the manner provided for in the Act in an aggregate amount not exceeding Five Billion Dollars ($5,000,000,000.00), such that the total aggregate amount authorized under subsection 17(1) of the Act shall not exceed Eight Billion Dollars ($8,000,000,000.00) 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 Five Billion Dollars ($5,000,000,000.00) 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.