Ontario creates the Protect Ontario Account Investment Fund as a new designated purpose account under the Financial Administration Act

Plain-language summary · AI-assisted · not legal advice

The amendment establishes a new designated purpose account called the Protect Ontario Account Investment Fund (Fonds d'investissement du compte Protéger l'Ontario). The Minister of Finance is required to set up this fund, and the Lieutenant Governor in Council may authorize amounts to be deposited into it on terms the Minister determines. Money in the fund can be spent on investments that promote innovation, infrastructure development, long-term economic growth, and other strategic provincial priorities. Unlike most government investments, expenditures for this fund are not charged to the Consolidated Revenue Fund in the same way—a specific carve-out removes that default rule for this fund. Returns and proceeds from investments flow back into the fund, though the Minister can direct some proceeds to remain in the Consolidated Revenue Fund instead. Regulations may be made prescribing terms, conditions, and restrictions on the securities and instruments the Minister may hold for this fund's purposes.

Who this affects: Ontario Minister of Finance and Ontario Financing Authority · businesses and projects seeking provincial investment or funding · infrastructure and innovation sector participants · government procurement and finance professionals