Marginal note:Superintendent to ascertain expenses

• 23. (1) The Superintendent shall, before December 31 in each year, ascertain the total amount of expenses incurred during the immediately preceding fiscal year for or in connection with the administration of the Bank Act, the Cooperative Credit Associations Act, the Green Shield Canada Act, the Insurance Companies Act, the Protection of Residential Mortgage or Hypothecary Insurance Act and the Trust and Loan Companies Act.

• Marginal note:Additional fiscal equalization payment — 2011-2012 fiscal year

  (2) An additional fiscal equalization payment may be paid for the fiscal year beginning on April 1, 2011 equal to,

  • (a) for Quebec, $368,932,000;

  • (b) for Nova Scotia, $157,591,000;

  • (c) for New Brunswick, $149,776,000; and

  • (d) for Manitoba, $275,808,000.

Marginal note:Payments — Ontario and Prince Edward Island

• 3.98 (1) There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister, the following sums for the fiscal year beginning April 1, 2011:

  • (a) to Ontario, $150,365,000; and

  • (b) to Prince Edward Island, $1,089,000.

• Marginal note:Recovery

  (2) If the Minister has made a payment to a province under subsection (1), he or she shall reduce, by an amount equal to 1/10 of that payment, the fiscal equalization payments to that province for each of the fiscal years in the period beginning on April 1, 2012 and ending on March 31, 2022. If, for one of those fiscal years, it is not possible to reduce the fiscal equalization payment by that entire amount, he or she may recover the amount remaining as a debt due to Her Majesty in right of Canada out of any sum of money that may be due or payable by Her Majesty in right of Canada to that province under this Act for that fiscal year.