Capital Investment Plan Act, 1993, S.O. 1993, c. 23

• Jurisdiction: Ontario

Capital Investment Plan Act, 1993

S.O. 1993, CHAPTER 23

Consolidation Period: From May 18, 2023 to the e-Laws currency date.

Last amendment: 2023, c. 5, Sched. 2, s. 6.

CONTENTS

Preamble

The Government of Ontario has announced a capital investment plan for Ontario under which the Government, municipalities and other public bodies, and the private sector will work together to make significant investments in the province’s infrastructure. Under the capital investment plan three new Crown agencies will be established and a fourth will be revitalized. These agencies will have responsibilities in the areas of provincial investment and financing programs, transportation projects, sewer and water projects and the management of the provincial land and building inventory. Legislation is required to establish the new Crown agencies and to continue the Ontario Land Corporation as the Ontario Realty Corporation. Complementary amendments are required to several Acts to implement the plan and to provide for certain other matters related to the financial administration of the Province of Ontario.

After the enactment of the Capital Investment Plan Act, 1993, legislation was enacted to amalgamate the Ontario Realty Corporation with the Ontario Infrastructure Projects Corporation and the Stadium Corporation of Ontario Limited to establish the Ontario Infrastructure and Lands Corporation. That legislation included complementary amendments to the Capital Investment Plan Act, 1993.

Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

PART I
CROWN AGENCIES — COMMON PROVISIONS

Definitions

1 In this Act,

“municipality” includes a local board, as defined in the Municipal Affairs Act, and a board, commission or other local authority exercising any power with respect to municipal purposes, including school purposes, in territory without municipal organization; (“municipalité”)

“security” includes any interest, document, instrument or writing commonly known as a security, or any document that evidences a debt or any right or interest in relation to a debt. (“valeur mobilière”) 1993, c. 23, s. 1; 2001, c. 9, Sched. G, s. 1 (1); 2002, c. 17, Sched. F, Table.

Section Amendments with date in force (d/m/y)

2001, c. 9, Sched. G, s. 1 (1) - 29/06/2001

2002, c. 17, Sched. F, Table - 1/01/2003

Corporations

2 (1) The following are established as corporations without share capital:

1. A corporation to be known in English as the Ontario Financing Authority and in French as the Office ontarien de financement.

2. Repealed: 2020, c. 18, Sched. 6, s. 46 (1).

3. A corporation to be known in English as the Ontario Clean Water Agency and in French as the Agence ontarienne des eaux. 1993, c. 23, s. 2 (1); 2020, c. 18, Sched. 6, s. 46 (1).

(2) Repealed: 2011, c. 9, Sched. 32, s. 38 (2).

Membership

(3) A corporation consists of the members of its board of directors. 1993, c. 23, s. 2 (3).

Crown agency

(4) Subject to section 24, a corporation is, for all its purposes, an agent of Her Majesty and its powers may be exercised only as an agent of Her Majesty. 1993, c. 23, s. 2 (4).

Application of Part

(5) This Part applies to the two corporations established under this section. 2011, c. 9, Sched. 32, s. 38 (3); 2020, c. 18, Sched. 6, s. 46 (2).

Section Amendments with date in force (d/m/y)

2011, c. 9, Sched. 32, s. 38 (2, 3) - 6/06/2011

2020, c. 18, Sched. 6, s. 46 (1, 2) - 21/07/2020

Responsible minister

Ontario Financing Authority

3 (1) The Minister of Finance is the minister responsible for the administration of this Act in respect of the Ontario Financing Authority. 1993, c. 23, s. 3 (1).

(2) Repealed: 2020, c. 18, Sched. 6, s. 46 (3).

Ontario Clean Water Agency

(3) The Minister of the Environment is the minister responsible for the administration of this Act in respect of the Ontario Clean Water Agency. 1993, c. 23, s. 3 (3); 2000, c. 26, Sched. E, s. 1 (1).

(4) Repealed: 2011, c. 9, Sched. 32, s. 38 (4).

Definition

(5) In this Part,

“minister”, except in section 8, means, in respect of a particular corporation, the minister who is responsible for the administration of this Act in respect of that corporation. 1993, c. 23, s. 3 (5).

Section Amendments with date in force (d/m/y)

2000, c. 26, Sched. E, s. 1 (1) - 6/12/2000

2009, c. 33, Sched. 14, s. 1 (1) - 15/12/2009

2011, c. 9, Sched. 32, s. 38 (4) - 6/06/2011

2020, c. 18, Sched. 6, s. 46 (3) - 21/07/2020

Powers

4 A corporation has the capacity and the rights, powers and privileges of a natural person, subject to the limitations set out in this Act. 1993, c. 23, s. 4.

Note: On a day to be named by proclamation of the Lieutenant Governor, section 4 of the Act is amended by adding the following subsection: (See: 2023, c. 5, Sched. 2, s. 6 (1))

Limitation re real property, Ontario Financing Authority

(2) The Ontario Financing Authority’s capacity, rights, powers and privileges are also subject to any limits imposed by section 11.0.1 of the Ministry of Infrastructure Act, 2011. 2023, c. 5, Sched. 2, s. 6 (1).

Section Amendments with date in force (d/m/y)

2023, c. 5, Sched. 2, s. 6 (1) - not in force

Board of directors

5 (1) The board of directors of a corporation shall manage or supervise the management of the business and affairs of the corporation. 2009, c. 18, Sched. 3, s. 1.

Composition

(2) A board shall be composed of its chair and at least four and not more than twelve other members appointed by the Lieutenant Governor in Council. 1993, c. 23, s. 5 (2).

Chair

(3) The Deputy Minister of Finance is, by virtue of office, the chair of the board of the Ontario Financing Authority and the chairs of the other boards shall be appointed by the Lieutenant Governor in Council. 1993, c. 23, s. 5 (3).

Vice-chairs

(4) A board shall have one or more vice-chairs appointed from amongst its members by the Lieutenant Governor in Council. 1993, c. 23, s. 5 (4).

Term of office

(5) An appointed member shall hold office at pleasure for a term not exceeding three years and may be reappointed for successive terms not exceeding three years each. 1993, c. 23, s. 5 (5).

Quorum

(6) Subject to the by-laws of the corporation, a majority of the members of the board constitutes a quorum for the transaction of business. 1993, c. 23, s. 5 (6).

Acting chair

(7) If the chair is absent or unable to act or if the office of chair is vacant, a vice-chair shall act as and have all the powers of the chair. 1993, c. 23, s. 5 (7).

Same

(8) If the chair and vice-chairs are absent from a board meeting, the members present at the meeting shall appoint an acting chair from among themselves to act as and to have all the powers of the chair during the meeting. 1993, c. 23, s. 5 (8).

Remuneration

(9) A member who is not a public servant employed under Part III of the Public Service of Ontario Act, 2006 shall be paid such remuneration and expenses as are determined by the Lieutenant Governor in Council. 1993, c. 23, s. 5 (9); 2006, c. 35, Sched. C, s. 11 (1).

Section Amendments with date in force (d/m/y)

2006, c. 35, Sched. C, s. 11 (1) - 20/08/2007

2009, c. 18, Sched. 3, s. 1 - 5/06/2009

By-laws

6 (1) The board of directors of a corporation may pass by-laws regulating its proceedings and specifying the powers and duties of the officers and employees and generally for the management of the corporation. 1993, c. 23, s. 6 (1).

By-laws to be approved

(2) A by-law of a corporation does not take effect until it is approved by the minister. 1993, c. 23, s. 6 (2).

Borrowing and investing by-law

(3) The power of a corporation and its subsidiary corporations to borrow, issue securities, make short-term investments of funds, manage risk associated with financing and investment or incur liabilities in order to facilitate financing by others may only be exercised under the authority of a by-law that has been approved by the Minister of Finance. 1993, c. 23, s. 6 (3).

Co-ordination of financing activities by Authority

(4) All borrowing, financing, short-term investment of funds and financial risk management activities of a corporation or its subsidiary corporations shall be co-ordinated and arranged by the Ontario Financing Authority, unless the Minister of Finance agrees otherwise. 1993, c. 23, s. 6 (4).

Chief executive officer

7 The Lieutenant Governor in Council, upon the recommendation of the minister, may appoint a chief executive officer of a corporation to be responsible for its operation and for the performance of such other functions as are assigned by its board of directors. 1993, c. 23, s. 7.

Employees

8 (1) Such employees as are considered necessary for the conduct of the business of a corporation may be appointed under Part III of the Public Service of Ontario Act, 2006. 1993, c. 23, s. 8 (1); 2006, c. 35, Sched. C, s. 11 (2).

(2) Repealed: 2006, c. 35, Sched. C, s. 11 (3).

Pension Plan

(3) The Public Service Pension Plan established under the Public Service Pension Act applies to the public servants employed under Part III of the Public Service of Ontario Act, 2006 who work in a corporation. 1993, c. 23, s. 8 (3); 2006, c. 35, Sched. C, s. 11 (4).

Agreements re: services required by a corporation

(4) Any minister of the Crown may enter into agreements with a corporation for the provision by employees of the Crown or any agency of the Crown of any service required by the corporation and the corporation may pay such amounts as are agreed on for the service. 1993, c. 23, s. 8 (4).

Employment policies and practices

(5) Subject to any policy formulated for a corporation by the Lieutenant Governor in Council under section 16, the Management Board of Cabinet shall ensure that the employment policies and practices of a corporation are appropriate in light of the corporation’s responsibilities and objects. 1993, c. 23, s. 8 (5).

(6) Repealed: 2011, c. 9, Sched. 32, s. 38...