Section 28 Exemptions - Building Ontario Fund
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O. Reg. 392/25: SECTION 28 EXEMPTIONS - BUILDING ONTARIO FUND, Under: Financial Administration Act, R.S.O. 1990, c. F.12
Financial Administration Act
SECTION 28 EXEMPTIONS — BUILDING ONTARIO FUND
Consolidation Period: From April 24, 2026 to the e-Laws currency date.
Note: This Regulation is revoked on a day to be named by order of the Lieutenant Governor in Council. (See: 2026, c. 2, Sched. 5, s. 11)
Last amendment: 2026, c. 2, Sched. 5, s. 11.
Legislative History: 2026, c. 2, Sched. 5, s. 11.
This is the English version of a bilingual regulation.
Definitions
1. In this Regulation,
“operating agreement” means an agreement, or the portion of an agreement, entered into by the Building Ontario Fund with respect to the ongoing operations of the Building Ontario Fund, and includes any agreement connected to the transaction to which the operating agreement relates, but does not include a project investment agreement; (“accord de fonctionnement”)
“project investment agreement” means an agreement entered into by the Building Ontario Fund with a person or entity mentioned in clause 3 (a) of the Building Ontario Fund Act, 2024 related to Ontario infrastructure projects pursuant to section 3 of that Act. (“accord d’investissement dans des projets”)
Project investment agreement
2. A financial arrangement, financial commitment, guarantee, indemnity or similar transaction that is contained in a project investment agreement is exempt from the application of subsection 28 (1) of the Act.
Operating agreement
3. A financial arrangement, financial commitment, guarantee, indemnity or similar transaction that is contained in an operating agreement is exempt from the application of subsection 28 (1) of the Act if the following requirements are satisfied:
1. The agreement has a total value of less than or equal to $5 million.
2. The agreement has a term of 10 years or less.
3. The agreement is governed by the laws of Ontario.
4. The agreement complies with,
i. all applicable policies of the Building Ontario Fund, and
ii. all applicable laws and government directives.
5. The agreement relates to activities of the Building Ontario Fund that are permitted under its objects and that are undertaken within Canada.
4. Omitted (provides for coming into force of provisions of this Regulation).