Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act (S.C. 1988, c. 28)

Marginal note:Final determination

• 227. (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 Minister of Finance following the end of the fiscal year, 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 Fiscal Arrangements Act.

• Marginal note:Interim determinations

  (2) The Minister of Finance 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).

Marginal note:Advance payments

228. The Federal Minister 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.

Marginal note:Accounting of advance on account

229. Where an amount has been paid to Her Majesty in right of the Province pursuant to section 228 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 Minister of Finance in the manner prescribed, notwithstanding that the fiscal equalization offset payment was not determined by the Minister of Finance in accordance with section 225.

Marginal note:Appropriation

230. The amounts authorized to be paid by sections 224 and 228 shall be paid out of the Consolidated Revenue Fund at such times and in such manner as may be prescribed.

Marginal note:Report to Parliament

231. On or before the 31st day of December next following the end of each fiscal year during the term of the Accord, the Federal Minister 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.

Marginal note:Regulations

232. The Governor in Council may, on the recommendation of the Minister of Finance, make regulations

• (a) prescribing the time and manner of making any payment under this Part;

• (b) respecting the determination of any matter that under this Part is to be determined by the Minister of Finance or the Federal Minister;

• (c) prescribing the time and manner of making any interim determination of a fiscal equalization offset payment or of the per capita fiscal capacity of the Province and the national average per capita fiscal capacity under this Part;

• (d) providing for the payment to Her Majesty in right of the Province of advances on account of a fiscal equalization offset payment for a fiscal year that may be payable or may become payable to Her Majesty in right of the Province pursuant to this Part, the adjustment of other payments by reason of such advances and the recovery of over-payments;

• (e) prescribing anything that, by virtue of any other provision of this Part, is to be prescribed; and

• (f) generally for carrying into effect the purposes and provisions of this Part.