Canada-Newfoundland Atlantic Accord Implementation Act (S.C. 1987, c. 3)

Act current to 2014-07-22 and last amended on 2010-04-01. Previous Versions

Determinations

Marginal note:Final determination
  •  (1) The final determination, for any fiscal year, of the fiscal equalization offset payment for the Province, the per capita fiscal capacity for the Province and the national average per capita fiscal capacity shall be determined by the Federal Minister at the same time that the final computation of the amount, if any, of the fiscal equalization payment that is payable to a province is made for the fiscal year under Part I of the Federal-Provincial Fiscal Arrangements Act.

  • Marginal note:Interim determinations

    (2) The Federal Minister may make an interim determination of a fiscal equalization offset payment for the Province for a fiscal year and of the per capita fiscal capacity of the Province and the national average per capita fiscal capacity for a fiscal year, at the time and in the manner prescribed, prior to any final determination made under subsection (1).

  • 1987, c. 3, s. 222;
  • 2007, c. 29, s. 80.

Advance Payments

Marginal note:Advance payments

 The Federal Minister of Natural Resources may, at the times and in the manner prescribed, pay to Her Majesty in right of the Province an amount on account of a fiscal equalization offset payment that may be payable or may become payable to Her Majesty in right of the Province under this Part in respect of any fiscal year.

  • 1987, c. 3, s. 223;
  • 1994, c. 41, s. 37.
Marginal note:Accounting of advance on account

 Where an amount has been paid to Her Majesty in right of the Province pursuant to section 223 on account of a fiscal equalization offset payment for a fiscal year, the amount shall be accounted for and shall be deemed to be a portion of the fiscal equalization offset payment in respect of the fiscal year as determined by the Federal Minister in the manner prescribed, notwithstanding that the fiscal equalization offset payment was not determined by the Federal Minister in accordance with section 220.

Appropriation

Marginal note:Appropriation

 The amounts authorized to be paid by sections 219 and 223 shall be paid out of the Consolidated Revenue Fund at such times and in such manner as may be prescribed.

Report to Parliament

Marginal note:Report to Parliament

 On or before the 31st day of December next following the end of each fiscal year during the term of the Agreement, the Minister of Natural Resources shall cause to be prepared a report in respect of that fiscal year, relating to

  • (a) every fiscal equalization offset payment, and

  • (b) every determination of the per capita fiscal capacity for the Province or the national average per capita fiscal capacity

that has been made under this Part, and shall cause the report to be laid before each House of Parliament on any of the first fifteen days on which that House is sitting after the day the report is prepared.

  • 1987, c. 3, s. 226;
  • 1994, c. 41, s. 37.