PART IV HYDRO ONE INC.
Statutory duties and restrictions
48.1 (1) Hydro One Inc. shall, through one or more subsidiaries, operate generation facilities and distribution systems in, and shall distribute electricity within, such communities as may be prescribed by regulation, whether or not the community is connected to the IESO-controlled grid, and shall do so in accordance with such conditions and restrictions as may be prescribed by regulation.  2010, c. 8, s. 37 (6). Head office in Ontario (2) Hydro One Inc. shall maintain its head office in Ontario. 2015, c. 20, Sched. 9, s. 2. What constitutes “maintained in Ontario” (3) For the purposes of subsection (2), Hydro One Inc. maintains its head office in Ontario if, (a) the principal executive office for Hydro One Inc. and its subsidiaries is located in Ontario; (b) the Chief Executive Officer and substantially all of the officers with strategic decision-making or management authority for Hydro One Inc. and its subsidiaries principally perform their duties at that principal executive office or elsewhere in Ontario and are resident in Ontario; and (c) substantially all of the strategic decision-making, corporate planning, corporate finance and other executive functions of Hydro One Inc. and its subsidiaries are carried out at that principal executive office or elsewhere in Ontario. 2015, c. 20, Sched. 9, s. 2. Essential systems and features in Ontario (4) Hydro One Inc. shall, directly or through its subsidiaries, at all times maintain in Ontario its centres of operation and control necessary for, (a) the control, monitoring and co-ordination of its transmission system that is regulated by the Board; and (b) the control, monitoring and co-ordination of its distribution system that is regulated by the Board. 2015, c. 20, Sched. 9, s. 2. Saving (5) Subsection (4) does not restrict Hydro One Inc., directly or through its subsidiaries, from selling, leasing, divesting or otherwise disposing of, any of the following where the sale, lease, divestiture or other disposition is not prohibited by subsection (6) or (7): 1. Any part of its transmission system that is regulated by the Board or the business, property or assets related to that transmission system. 2. Any part of its distribution system that is regulated by the Board or the business, property or assets related to that distribution system. 2015, c. 20, Sched. 9, s. 2. Substantial divestment, transmission system (6) Hydro One Inc. shall not, directly or indirectly, through its subsidiaries or otherwise, sell, lease, divest or otherwise dispose of all or substantially all of the business, property or assets related to its transmission system that is regulated by the Board. 2015, c. 20, Sched. 9, s. 2. Substantial divestment, distribution system (7) Hydro One Inc. shall not, directly or indirectly, through its subsidiaries or otherwise, sell, lease, divest or otherwise dispose of all or substantially all of the business, property or assets related to its distribution system that is regulated by the Board. 2015, c. 20, Sched. 9, s. 2. Internal transactions (8) Subsections (6) and (7) do not prevent or limit any transactions between Hydro One Inc. and any of its subsidiaries or between any of its subsidiaries. 2015, c. 20, Sched. 9, s. 2. Continuance in another jurisdiction (9) Hydro One Inc. shall not, directly or indirectly, through its subsidiaries or otherwise, apply for the continuance of Hydro One Inc. under the laws of a jurisdiction other than Ontario. 2015, c. 20, Sched. 9, s. 2. Section Amendments with date in force (d/m/y) 2002, c. 1, Sched. A, s. 10 - 27/06/2002 2004, c. 23, Sched. A, s. 50 - 01/01/2005 2010, c. 8, s. 37 (6)
- 01/01/2011 2015, c. 20, Sched. 9, s. 2 - 31/08/2015