Statement by the Hon. Greg Sorbara, Minister of Finance

Archived Release

Statement by the Hon. Greg Sorbara, Minister of Finance

Ministry of Finance

TORONTO, Feb. 26 - Today the Minister of Finance issued the following statement: As Minister of Finance, I was advised by the Ontario Securities Commission in December 2003 of an ongoing investigation of Royal Group Technologies Ltd. As is appropriate, I was not provided with any details related to the investigation. That investigation was confirmed yesterday in a press release issued by the company. It would have been inappropriate in December, as it is now, for me, as Minister of Finance, to comment on any aspect of this or any other publicly traded company while it is under investigation. Nevertheless, I can confirm that, since December, I have not been contacted by any of the authorities involved in the investigation. However, out of an abundance of caution and given that I was a director of Royal Group Technologies Ltd. prior to becoming Minister of Finance, I have asked the Premier to temporarily assign responsibility for the Ontario Securities Commission to another Cabinet minister until the investigation is complete. Certainly, should I ever become the subject of an investigation, I would step aside pending the outcome. Disponible en fran├žais For more information visit www.gov.on.ca/finFor further information: Diane Flanagan, Minister's Office, (416) 212-0634