Winding up the Corporation
9.1 (1) The Board shall prepare a proposed plan for winding up the Corporation and transferring its assets, liabilities, rights and obligations to the Crown in right of Ontario or to an agency of the Crown. 2018, c. 17, Sched. 30, s. 2. Plan for winding up (2) The plan for winding up the Corporation may provide for, (a)  liquidating assets and transferring the proceeds to the Consolidated Revenue Fund or to an agency of the Crown; (b)  transferring assets, liabilities, rights and obligations to the Crown in right of Ontario or to an agency of the Crown; and (c)  any other matter. 2018, c. 17, Sched. 30, s. 2. Implementation (3) Subject to the approval of the plan by the Lieutenant Governor in Council, the Board shall wind up the affairs of the Corporation and transfer its assets, liabilities, rights and obligations, including transferring the proceeds from the liquidation of assets, in accordance with the plan. 2018, c. 17, Sched. 30, s. 2. Changes to plan after approval (4) If any changes to the plan are required after it has been approved under subsection (3), the Board shall, subject to the approval of the changes to the plan by the Lieutenant Governor in Council, continue to carry out the implementation of the plan in accordance with those changes. 2018, c. 17, Sched. 30, s. 2. Power to transfer assets, etc. (5) The following provisions apply for the purposes of implementing a plan approved under this section: 1.  The Corporation may transfer to the Crown in right of Ontario or to an agency of the Crown any of its assets, liabilities, rights and obligations, without consideration. 2.  If an agreement is the subject of a transfer under this section, it shall be deemed to be assignable by the Corporation without consent of any party to the agreement. 3.  The Corporation may enter into such other agreements, execute such documents and instruments, and do such other acts and things as the Corporation considers necessary or advisable to effect a transfer authorized under this section. 2018, c. 17, Sched. 30, s. 2. Provisions regarding a transfer of assets, etc. (6) The following provisions apply to transfers of assets, liabilities, rights and obligations of the Corporation that are made pursuant to a plan approved under this section: 1.  The transferred asset, liability, right or obligation of the Corporation continues as the asset, liability, right or obligation of the recipient of the transfer. 2.  A transfer of an asset, liability, right or obligation of the Corporation to the recipient of the transfer shall not constitute a change of control of the Corporation in respect of the asset, liability, right or obligation. 3.  A transfer is deemed not to, i.  constitute a breach, termination, repudiation or frustration of any contract, ii.  constitute a breach of any Act, regulation or municipal by-law, iii.  constitute an event of default or force majeure, iv.  give rise to a breach, termination, repudiation or frustration of any licence, permit or other right, v.  give rise to any right to terminate or repudiate a contract, licence, permit or other right, or vi.  give rise to any estoppel. 4.  Despite any other Act that requires notice or registration of a transfer, a transfer is binding on the recipient of the transfer and all other persons. 5.  A conviction against, or ruling, order or judgment in favour of or against the Corporation may be enforced by or against the recipient of the transferred conviction, ruling, order or judgment. 6.  The recipient of a transferred action shall be deemed to be the party plaintiff or the party defendant, as the case may be, in any civil action commenced by or against the Corporation before the date of the transfer. 2018, c. 17, Sched. 30, s. 2. Notice after implementation of plan (7) The Board shall provide such reports as the Minister may require from time to time and shall notify the Minister in writing as soon as possible after it has finished implementing the plan. 2018, c. 17, Sched. 30, s. 2. No cause of action (8) No cause of action arises as a direct or indirect result of anything done or not done under this section against any of the following or, as the case may be, their respective current or former appointees, directors, officers, advisers, agents and employees: 1.  The Crown in right of Ontario. 2.  An agency of the Crown that is a recipient of a transfer of assets, liabilities, rights or obligations of the Corporation that is made pursuant to a plan approved under this section. 3.  Any current or former member of the Executive Council. 4.  The Corporation. 2018, c. 17, Sched. 30, s. 2. Proceedings barred (9) No action or other proceeding claiming any remedy or relief, including but not limited to any proceeding for a remedy in contract, restitution or tort, and any remedy under any other statute, that is directly or indirectly based on or related to anything done or not done under this section may be brought or maintained against any of the following or, as the case may be, their respective current or former appointees, directors, officers, advisers, agents and employees: 1.  The Crown in right of Ontario. 2.  An agency of the Crown that is a recipient of a transfer of assets, liabilities, rights or obligations of the Corporation that is made pursuant to a plan approved under this section. 3.  Any current or former member of the Executive Council. 4.  The Corporation. 2018, c. 17, Sched. 30, s. 2. Regulations (10) The Lieutenant Governor in Council may make regulations, (a)  governing the development and implementation of a plan approved under this section; (b)  setting out provisions in addition to those set out in subsection (5) that apply with respect to the implementation of a plan approved under this section; (c)  setting out provisions in addition to those set out in subsection (6) that apply to transfers of assets, liabilities, rights and obligations under this section, including prescribing Acts which do not apply, either in whole or in part, to such transfers. 2018, c. 17, Sched. 30, s. 2. Section Amendments with date in force (d/m/y) 2018, c. 17, Sched. 30, s. 2 - 06/12/2018