On Monday, October 10, 2017 the Ministry of Municipal Affairs
posted on Ontario's Regulatory Registry a summary of proposed
regulatory changes under the Municipal Act, 2001 and
the City of Toronto Act, 2006.
A summary of the proposed changes as set out on the website
follows:
Prudent Investor Standard [Note: the
relevant sections of the Municipal Act, 2001, have not yet
been proclaimed in force.]
Regulatory amendments under the Municipal Act, 2001 are
proposed that set out some of the rules for eligible municipalities
that decide, by by-law, to 'opt in' to the
prudent investor regime. Such rules relate to the eligibility
criteria, the governance framework and the concept of two or more
municipalities investing together as a group. In summary, the
proposed rules provide that eligible municipalities are those that
have a net financial assets balance of more than $50 million or
that, jointly with one or more municipalities, have a minimum
balance of $100
