1 (1) In this Act, “capital account” means an account established by or on behalf of the Fair Hydro Trust under the governing documents for an existing funding obligation for the purpose of accumulating funds to be used to make repayments in respect of the existing funding obligation; (“compte capital”) “existing funding obligation” means a funding obligation that existed on the final plan date; (“obligation de financement existante”) “fair allocation amount” means, when used in respect of a reference period, the amount calculated by the Minister in respect of the reference period under section 20 of this Act as it read immediately before the final plan date and provided by the Minister to the Financial Services Manager before the final plan date; (“montant de répartition équitable”) “Fair Hydro Trust” means the trust established by the Financial Services Manager under subsection 22 (2) of this Act as it read immediately before the final plan date and includes the trustee of the trust when acting as trustee; (“Fair Hydro Trust”) “FHT acceleration” means, when used in respect of an existing funding obligation, the event arising under the governing documents in which a portion of the principal owing in respect of the existing funding obligation becomes due and payable by the Fair Hydro Trust before the scheduled payment date, maturity date or redemption date; (“déchéance du terme contre Fair Hydro Trust”) “FHT expenses” means all fees, expenses, costs, expenditures and liabilities incurred by or on behalf of the Fair Hydro Trust, including costs and expenditures payable by or on behalf of the Fair Hydro Trust in respect of a matter set out in subsection (2), including any taxes payable on those amounts, and excluding amounts mentioned in subsection (3); (“dépenses de Fair Hydro Trust”) “final plan date” means November 1, 2019; (“date du plan définitif”) “finance reserve account” means an account established by or on behalf of the Fair Hydro Trust under the governing documents for an existing funding obligation for the purposes of pre-funding, collateralizing, over-collateralizing or establishing reserves for the payment of existing funding obligations, FHT expenses or for related contingencies; (“compte de réserve financière”) “Financial Services Manager” means Ontario Power Generation Inc.; (“gestionnaire des services financiers”) “funding cost” means interest, commitment fees or other similar costs payable by or on behalf of the Fair Hydro Trust in respect of existing funding obligations; (“coût de financement”) “funding obligation” means a payment obligation incurred by or on behalf of the Fair Hydro Trust, (a)  to fund its ownership of the investment asset, including principal, interest, fees and other amounts owing in respect thereof, or (b)  in respect of an amount raised for the purposes of the Fair Hydro Trust acquiring and financing the investment asset that was or would have been recoverable as a finance amount under this Act as it read immediately before the final plan date; (“obligation de financement”) “General Regulation” means Ontario Regulation 206/17 (General) made under this Act; (“règlement général”) “governing documents” means, when used in respect of a funding obligation, the documents governing the terms of the funding obligation or other matters relating to the funding obligation; (“documents directeurs”) “IESO” means the Independent Electricity System Operator continued under Part II of the Electricity Act, 1998; (“SIERE”) “investment asset” means the investment asset created under this Act before the final plan date, comprised of, (a)  before the final plan date, the rights and interests described in subsection 29 (1) of this Act as it read immediately before the final plan date, and (b)  on and after the final plan date, the rights and interests as described in subsection 17 (1) of this Act; (“actif d’investissement”) “maturity date” means, in respect of an existing funding obligation, the date set out in the governing documents for the existing funding obligation on which all outstanding principal, interest and other amounts outstanding are due and payable; (“date d’échéance”) “Minister” means the Minister of Energy, Northern Development and Mines or such other member of the executive council as may be assigned the administration of this Act under the Executive Council Act; (“ministre”) “Ontario Power Generation Inc.” means the corporation incorporated as Ontario Power Generation Inc. under the Business Corporations Act on December 1, 1998; (“Ontario Power Generation Inc.”) “payment date” means, (a)  a date on which the Fair Hydro Trust is obligated under the governing documents for an existing funding obligation, including in accordance with the requirements and priorities set out in the governing documents, to pay an amount that is due and payable in respect of an existing funding obligation, an FHT expense or a tax, or (b)  if a different date has been prescribed by a regulation made under subsection 6 (3), the prescribed date; (“date de paiement”) “prescribed” means prescribed by the regulations; (“prescrit”) “Protection Agreement” means the agreement entered into by Her Majesty the Queen in Right of Ontario, as represented by the Minister of Energy and the Minister of Finance, and Computershare Trust Company of Canada as Trustee of Fair Hydro Trust, and Ontario Power Generation Inc. as Financial Services Manager and Manager of Fair Hydro Trust,  and BNY Trust Company of Canada as Indenture Trustee, entitled “Change of Law Protection Agreement”, dated as of December 21, 2017; (“accord de protection”) “recovery amount” means the aggregate of all amounts received by or on behalf of the Fair Hydro Trust in respect of funding obligations; (“montant de recouvrement”) “redemption amount” means the amount payable by or on behalf of the Fair Hydro Trust to redeem, prepay or repurchase an existing funding obligation, including any premium, make-whole or other amount payable to give effect to the prepayment, redemption or repurchase; (“montant de rachat”) “reference period” means, (a)  the period beginning on July 1, 2017 and ending on October 31, 2017, and (b)  during the period beginning on November 1, 2017 and ending on April 30, 2047, every six-month period following the period mentioned in clause (a); (“période de référence”) “regulation” means a regulation made under this Act; (“règlement”) “repayment” means the payment by or on behalf of the Fair Hydro Trust or the provision by or on behalf of the Fair Hydro Trust for the payment of all or a portion of the principal amount advanced to the Fair Hydro Trust under an existing funding obligation; (“remboursement”) “tax” means a tax, duty, fee, premium, excise, assessment, impost, levy or other charge payable by the Fair Hydro Trust to Her Majesty in right of Ontario, Her Majesty in right of Canada or the government of any other country, province, state, municipality or other political territory and imposed or authorized to be imposed by any law of Ontario, Canada, or any other country, province, state, municipality or other political territory and includes, (a)  a tax, duty, fee, premium, excise, assessment, impost, levy or other charge, (i)  levied on, measured by or described with respect to income, earnings, gross receipts, profits, capital, capital gains, sales or use, or (ii)  referred to as branch tax, net worth tax, alternative tax, minimum tax, goods and services tax, harmonized sales tax, value-added tax, excise tax, ad valorem tax, franchise tax, transfer tax, withholding tax, property tax, surtax, payroll tax, employment tax or employer health tax, (b)  government pension plan premiums or contributions, social security premiums, workers’ compensation premiums and employment or unemployment insurance or compensation premiums and contributions, (c)  an amount or charge under Part VI of the Electricity Act, 1998, (d)  an instalment in respect of an amount mentioned in clauses (a) to (c), and (e)  interest, penalties, fines, additions to tax or other amounts imposed on or in respect of an amount mentioned in clauses (a) to (c); (“impôt”) “tax refund” means all amounts received by or on behalf of the Fair Hydro Trust as a refund of tax and to which the Fair Hydro Trust is entitled as a result of any activity, undertaking, transaction or event authorized or permitted under this Act. (“remboursement d’impôt”) 2019, c. 6, Sched. 3, s. 2. FHT expenses (2) For the purposes of the definition of “FHT expenses” in subsection (1), the matters include the following: 1.  Maintaining the Fair Hydro Trust in good standing. 2.  Administering, managing and operating the Fair Hydro Trust, including to enable compliance with its obligations under the governing documents for each existing funding obligation and the other contracts and instruments to which the Fair Hydro Trust is or becomes a party. 3.  Fulfilling and complying with the Fair Hydro Trust’s obligations and undertakings under this Act and the governing documents for each existing funding obligation and the other contracts and instruments to which the Fair Hydro Trust is or becomes a party, including all charges, costs, indemnities, reimbursements and other amounts, together with any taxes on such charges, costs, indemnities, reimbursements and other amounts, incurred or committed to by or on behalf of the Fair Hydro Trust as a result of, i.  an activity authorized or permitted under the governing documents for each existing funding obligation and the other contracts and instruments to which the Fair Hydro Trust is or becomes a party, ii.  an agreement, undertaking or commitment made by or on behalf of the Fair Hydro Trust under this Act as it read immediately before the final plan date or under the General Regulation as it read immediately before the final plan date, or iii.  an activity authorized or permitted under this Act or the governing documents for each existing funding obligation and the other contracts and instruments to which the Fair Hydro Trust is or becomes a party on or after the final plan date. 4.  Paying the underwriters, selling agents, valuation experts or other capital markets professionals in respect of existing funding obligations. 5.  Paying the banking fees, including but not limited to structuring fees or work fees in respect of existing funding obligations. 6.  Paying the fees of issuing and paying agents in respect of existing funding obligations. 7.  Paying the fees of trustees. 8.  Paying the fees incurred in the preparation of financial statements, financial reports, compliance certificates and tax returns. 9.  Paying the fees of legal counsel. 10.  Paying the rating agency fees. 11.  Paying the filing or registration fees. 12.  Paying the direct costs of the Financial Services Manager for employees whose work for the Financial Services Manager consists of the provision of services to the Fair Hydro Trust. 13.  Paying the costs and expenditures incurred on behalf of the Fair Hydro Trust in connection with the Financial Services Manager’s duties under this Act. 14.  Paying the costs and expenditures incurred in relation to any management agreement between the Financial Services Manager and the Fair Hydro Trust where the agreement provides for the reimbursement of the costs and expenditures. 2019, c. 6, Sched. 3, s. 2. Same, exclusions (3) For the purposes of the definition of “FHT expenses” in subsection (1), FHT expenses do not include amounts arising under existing funding obligations or any taxes other than those taxes mentioned in the definition of “FHT expenses” in subsection (1). 2019, c. 6, Sched. 3, s. 2. Section Amendments with date in force (d/m/y) 2019, c. 6, Sched. 3, s. 2 - 01/11/2019