2 (1) The Lieutenant Governor in Council shall designate a not-for-profit corporation without share capital incorporated under the laws of Ontario to be the Corporation for the purposes of this Act.  R.S.O. 1990, c. O.31, s. 2 (1); 2020, c. 14, Sched. 5, s. 4 (1). Objects (2) Upon its designation, the objects of the Corporation are extended to include, (a) the administration of the Ontario New Home Warranties Plan; (b) the establishment and administration of a guarantee fund providing for the payment of compensation under section 14, whether by the establishment of a fund for the purpose or by contract with licensed insurers; (c) assisting in the conciliation of disputes between vendors and owners; (c.1) promoting the resolution of claims as soon as reasonably possible in accordance with this Act and the regulations; (c.2) promoting the construction in Ontario of properly built homes for residential purposes; (d) engaging in undertakings for the purpose of improving communications between vendors and owners; and (e) the planning, implementation and financing related to any amendments made to this Act or the regulations or the repeal of all or any part of this Act or related to the enactment of any Act that replaces all or any part of this Act, including making payments or loans out of the guarantee fund to any not-for-profit corporation without share capital incorporated under the laws of Ontario that, (i) is designated to administer any Act that replaces all or any part of this Act, or (ii) may be designated to administer any Act that replaces all or any part of this Act, based on the information that the Minister provides to the Corporation.  R.S.O. 1990, c. O.31, s. 2 (2); 2017, c. 33, Sched. 4, s. 2 (1); 2020, c. 14, Sched. 5, s. 4 (2, 3). Application of Insurance Act (3) The Insurance Act does not apply to the Corporation and its undertakings in respect of any matter within its objects or authorized by this Act.  R.S.O. 1990, c. O.31, s. 2 (3). No personal liability (4) No action or other proceeding shall be commenced against a current or former director, officer or employee of the Corporation for any act or omission done in good faith in carrying out the objects described in clause (2) (e). 2017, c. 33, Sched. 4, s. 2 (2). Revocation of designation (5) The Lieutenant Governor in Council may, by regulation, revoke the designation of the Corporation if the Lieutenant Governor in Council considers it advisable to do so in the public interest. 2020, c. 14, Sched. 5, s. 4 (4). Revocation for non-compliance (6) The Lieutenant Governor in Council may revoke the designation of the Corporation if, (a) the Corporation has failed to comply with this Act, the regulations, the administrative agreement, an information sharing agreement or other applicable law; (b) the Minister has allowed the Corporation the opportunity of remedying its default within a specified time period that the Minister considers reasonable in the circumstances; and (c) the Corporation has not remedied its default to the Minister’s satisfaction within the specified time period mentioned in clause (b) and the Minister has so advised the Lieutenant Governor in Council. 2020, c. 14, Sched. 5, s. 4 (4). Same, no restriction on subs. (5) (7) Nothing in subsection (6) restricts the ability of the Lieutenant Governor in Council to act under subsection (5). 2020, c. 14, Sched. 5, s. 4 (4). Revocation on request (8) The Lieutenant Governor in Council may revoke the designation of the Corporation on the terms that the Lieutenant Governor in Council considers advisable in the public interest if the Corporation requests the revocation. 2020, c. 14, Sched. 5, s. 4 (4). Non-application of Statutory Powers Procedure Act (9) The Statutory Powers Procedure Act does not apply to the exercise by the Lieutenant Governor in Council of a right under this section to revoke the designation of the Corporation. 2020, c. 14, Sched. 5, s. 4 (4). Transition (10) If the Lieutenant Governor in Council revokes the designation of the Corporation under this section, the Lieutenant Governor in Council may, by regulation, provide for any transitional matter necessary for the effective implementation of the revocation, including, (a) the transfer, without compensation, of any property, including assets, liabilities, rights, obligations, records, databases, bank accounts and money, that the Corporation holds in respect of carrying out its activities; and (b) the assignment, without compensation, of any contracts that the Corporation has entered into before the revocation. 2020, c. 14, Sched. 5, s. 4 (4). No Crown liability (11) No cause of action arises against the Crown, a minister of the Crown, a Crown employee or a Crown agent as a direct or indirect result of the revocation of the designation of the Corporation or any regulation made under subsection (10). 2020, c. 14, Sched. 5, s. 4 (4). No proceeding (12) No proceeding, including but not limited to any proceeding in contract, restitution, tort or trust, shall be instituted against the Crown, a minister of the Crown, a Crown employee or a Crown agent by a person who has suffered any damages, injury or other loss based on or related to any cause of action described in subsection (11). 2020, c. 14, Sched. 5, s. 4 (4). Section Amendments with date in force (d/m/y) 2017, c. 33, Sched. 4, s. 2 (1, 2) - 14/12/2017 2020, c. 14, Sched. 5, s. 4 (3, 4) - 30/11/2020; 2020, c. 14, Sched. 5, s. 4 (2) - 01/02/2021; 2020, c. 14, Sched. 5, s. 4 (1) - 19/10/2021