The Minister of the Environment, Conservation and Parks has issued new directions regarding the use of surplus funds remaining from the wind up of Ontario Tire Stewardship (OTS).
As a result of a ruling by Canada Revenue Agency, the amount of surplus funds held by OTS will be more significant than what was anticipated at the time RPRA approved the Wind-Up Plan.
The Minister has directed OTS to amend its Wind-Up Plan to establish a program for the return of the surplus funds they hold to tire consumers. Read the Minister’s Direction.
In order to comply with the Minister’s direction, OTS will be holding consultations on options for managing surplus funds. Learn more.