The statute text
129 If the Board issues an order under subsection 126 (10) permitting an increase in rent that is due in whole or in part to eligible capital expenditures,
(a) the Board shall specify in the order the percentage increase that is attributable to the eligible capital expenditures;
(b) the Board shall specify in the order a date, determined in accordance with the prescribed rules, for the purpose of clause (c); and
(c) the order shall require that,
(i) if the rent charged to a tenant for a rental unit is increased pursuant to the order by the maximum percentage permitted by the order and the tenant continues to occupy the rental unit on the date specified under clause (b), the landlord shall, on that date, reduce the rent charged to that tenant by the percentage specified under clause (a); and
(ii) if the rent charged to a tenant for a rental unit is increased pursuant to the order by less than the maximum percentage permitted by the order and the tenant continues to occupy the rental unit on the date specified under clause (b), the landlord shall, on that date, reduce the rent charged to that tenant by a percentage determined in accordance with the prescribed rules that is equal to or lower than the percentage specified under clause (a).
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Reproduced under the King’s Printer for Ontario / Open Government Licence – Ontario. Confirm against the official e-Laws consolidation before relying on it.