The Resource Productivity and Recovery Authority’s (RPRA) Board of Directors approved Stewardship Ontario’s ISO Surplus Fund Transfer Addendum to the MHSW 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 Stewardship Ontario 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.
RPRA’s approval came with the following conditions:
- The Addendum shall be updated to apply a reserve share allocation methodology based on current membership and market share using reported tonnage supplied to the Ontario market in the last full year.
- The Addendum shall be updated with respect to how tonnage is attributed to stewards: the reserve share allocation methodology used to determine the SO-ISO share of a material reserve attribute tonnage supplied by a steward who has transitioned to an ISP during the applicable data year to that steward’s current program operator.
- The Residual Funds Addendum shall be amended by adding a fifth clause stating that “Residual funds must be returned to Stewards or ISP Members in the form of a payment and not as a credit that can be accessed at a later date, if requested by a Steward or ISP Member.”
- RPRA may serve a decision-making role in the SO-ISO Surplus Fund Transfer Agreement, with respect to reasonable unexpected costs recoverable by Stewardship Ontario from ISOs in the event of a program extension, on terms that are acceptable to RPRA’s CEO.
More details are available on the MHSW Wind Up webpage.