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Order in Council 323/2021

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 subsections 7(1) and 7(2) of O. Reg. 357/20 made under the Development Corporations Act (the “Regulation”) provide for appointment of a board of directors by the Lieutenant Governor in Council and the designation of a chair and vice-chair by the Minister of Economic Development, Job Creation and Trade;

And

whereas subsection 7(6) of the Regulation provides that the members of the board of directors shall receive the remuneration and be reimbursed for reasonable expenses as the Lieutenant Governor in Council may determine;

Therefore , pursuant to subsection 7 (6) of the Regulation, upon the appointment of a board of directors by the Lieutenant Governor in Council and the designation of a chair and vice-chair by the Minister of Economic Development, Job Creation and Trade,

Chair’s remuneration

The chair of the board of directors shall be paid remuneration at an amount specified by the Lieutenant Governor in Council.

Vice-Chair’s remuneration

The vice-chair of the board of directors shall be paid remuneration of $250 per day, provided that the total remuneration shall not exceed $45,000 per year.

Other members’ remuneration

The members of the board of directors, other than the chair and the vice-chair, shall each be paid remuneration of $200 per day, provided that the total remuneration shall not exceed $36,000 per year.

Expenses

In addition to the remuneration set out above, the members of the board of directors, including the chair and vice-chair, shall be reimbursed for reasonable expenses incurred in carrying out their duties on the board of directors in accordance with the Management Board of Cabinet’s Travel, Meal and Hospitality Expenses Directive and other applicable directives.

Ministry of Economic Development, Job Creation and Trade

Approved and Ordered:

March 18, 2021

Updated: June 29, 2022

Published: April 01, 2021