MEMORANDUM OF UNDERSTANDING BETWEEN THE MINISTER OF FINANCE AND THE ONTARIO SECURITIES COMMISSION
Subsection 3.7(1) of the Securities Act, R.S.O. 1990, c. S.5, as amended, requires the Commission and the Minister of Finance to enter into a Memorandum of Understanding (MOU) every five years. The MOU must set out:
(a) the respective roles and responsibilities of the Minister and the Chair;
(b) the accountability relationship between the Commission and the Minister;
(c) the responsibility of the Commission to provide to the Minister business plans, operational budgets and plans for proposed significant changes in the operations or activities of the Commission; and
(d) any other matter that the Minister may require.
The MOU between the Commission and the Minister dated May 26, 2003 is being published today in the Bulletin and is effective immediately.
Questions may be referred to:
Susan Wolburgh Jenah
General Counsel and Director, International Affairs
416-593-8245
email: swolburghjenah@osc.gov.on.ca
Krista Martin Gorelle
Senior Legal Counsel, General Counsel's Office
416-593-3689
email: kgorelle@osc.gov.on.ca
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