Authority approves Surplus Fund Addendum to MHSW Program Wind-Up Plan
On June 24, the Authority approved Stewardship Ontario’s (SO) surplus fund transfer addendum to the Municipal Hazardous or Special Waste (MHSW) Program Wind-Up Plan.
The addendum outlines the amount of surplus funds to be transferred to the Industry Stewardship Organizations (ISOs) as a lump sum and the process for SO to recover reasonable unexpected costs related to the materials managed by the ISOs in the event of a delay in wind up of the MHSW Program.
In approving the addendum, the Authority required the following conditions:
- A reserve share allocation methodology based on current membership at the date of approval of the Addendum and market share using reported tonnage supplied
- Clarification of how tonnage, and the resulting steward’s share of a material reserve, is attributed to stewards that transition from the IFO to an ISP
- Requirement for any residual funds to be returned as a payment and not as a credit, if requested by a Steward or ISP Member
Read the Authority’s approval letter here.
In April 2020, SO received direction from the Minister of the Environment, Conservation and Parks to develop amendments to its MHSW Program Wind-Up Plan for the disposition of surplus funds.
SO submitted a draft proposal to the Authority on June 5, 2020 and the Authority consulted the ISOs, stewards, service providers and other affected stakeholders. Visit the Authority’s consultation webpage to learn more about the consultation process and to read the consultation report summarizing the feedback received.
All other sections of SO’s MHSW Wind-Up Plan were approved by the Authority in December 2019.
For details on the implementation of the MHSW Wind-Up Plan, visit SO’s website or email mhswwindup@stewardshipontario.ca.
For more information:
MHSW WUP: ISO Surplus Fund Transfer Addendum
MHSW Wind-Up Plan page