Supporting Vulnerable Seniors and Strengthening Canada’s Economy Act (S.C. 2011, c. 15)

Assented to 2011-06-26

R.S., c. 18 (3rd Supp.), Part 1Office of the Superintendent of Financial Institutions Act

Marginal note:1997, c. 15, s. 339

 Subsection 23(1) of the Office of the Superintendent of Financial Institutions Act is replaced by the following:

Marginal note:Superintendent to ascertain expenses

Coming into Force

Marginal note:Order in council

 This Part comes into force on a day to be fixed by order of the Governor in Council.


 Section 3.12 of the Federal-Provincial Fiscal Arrangements Act is renumbered as subsection 3.12(1) and is amended by adding the following:

  • 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.

 The Act is amended by adding the following after section 3.97:


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.

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