Minister’s Order to decrease size of board under the Ontario New Home Warranties Plan Act
Signed Minister’s order decreasing the size of Tarion’s board to 12 members.
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Whereas subsection 2.3 (2) of the Ontario New Home Warranties Plan Act (the “Act”) provides that the Minister may, by order, increase or decrease the number of members of the board of directors (“the Board”) of Tarion Warranty Corporation (the “Corporation”);
And whereas the Corporation’s By-law No. 1, amended by the directors of the Corporation on the 20th day of November, 2014 provides for a board of directors consisting of sixteen members;
And whereas decreasing the number of members of the Board will better align the Board size with leading practices adopted by other comparable boards of directors and with other administrative authorities as well as allow the Board to operate in a more cost-effective manner;
Now therefore pursuant to subsection 2.3 (2) of the Act, I hereby make the following Order:
- The number of members of the Board shall be decreased from sixteen to twelve, effective no later than February 14, 2020.
- The Corporation shall take the necessary steps to implement this Order by no later than February 14, 2020.
- This Order comes into effect on the day it is made.
Original signed by
The Honourable Lisa Thompson
Minister of Government and Consumer Services
November 27, 2019