Budget Implementation Act, 2007 (S.C. 2007, c. 29)
Full Document:
Assented to 2007-06-22
Transitional Payments
Marginal note:Maximum payment of $614,100,000
126. (1) The Minister of Finance may make direct payments, in an aggregate amount not exceeding six hundred and fourteen million, one hundred thousand dollars, to a trust established to provide the Province of Ontario with funding for post-secondary education and training and the Provinces of Manitoba and Saskatchewan with funding for training.
Marginal note:Provincial share
(2) The amount that may be provided to a province under this section is to be determined in accordance with the terms of the trust indenture establishing the trust referred to in subsection (1) and allocated as follows:
(a) a sum not exceeding five hundred and seventy-four million dollars to the Province of Ontario;
(b) a sum not exceeding twenty-one million, seven hundred thousand dollars to the Province of Manitoba; and
(c) a sum not exceeding eighteen million, four hundred thousand dollars to the Province of Saskatchewan.
Marginal note:Payments out of C.R.F.
(3) Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.
Human Papillomavirus Immunization
Marginal note:Maximum payment of $300,000,000
127. (1) The Minister of Finance may make direct payments, in an aggregate amount not exceeding three hundred million dollars, to a trust established to provide the provinces and territories with funding in support of human papillomavirus immunization.
Marginal note:Provincial or territorial share
(2) The amount that may be provided to a province or territory under this section is to be determined in accordance with the terms of the trust indenture establishing the trust referred to in subsection (1).
Marginal note:Payments out of C.R.F.
(3) Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.
Patient Wait Times Guarantee
Marginal note:Maximum payment of $612,000,000
128. (1) The Minister of Finance may make direct payments, in an aggregate amount not exceeding six hundred and twelve million dollars, to a trust established to provide provinces and territories with funding in support of a patient wait times guarantee.
Marginal note:Provincial or territorial share
(2) The amount that may be provided to a province or territory under this section is to be determined in accordance with the terms of the trust indenture establishing the trust referred to in subsection (1).
Marginal note:Payments out of C.R.F.
(3) Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.
Child Care Spaces
Marginal note:Maximum payment of $250,000,000
129. (1) The Minister of Finance may, for the fiscal year beginning on April 1, 2007, make direct payments, in an aggregate amount not exceeding two hundred and fifty million dollars to the provinces and territories for the purpose of supporting the creation of child care spaces.
Marginal note:Provincial or territorial share
(2) The amount that may be paid to a province or territory for the fiscal year referred to in subsection (1) is the amount determined by multiplying the amount set out in that subsection by the quotient obtained by dividing
(a) the population of the province or territory for the fiscal year
by
(b) the total of the population of all provinces and territories for the fiscal year.
Marginal note:Payments out of C.R.F.
(3) Any amount payable under this section may be paid by the Minister of Finance out of the Consolidated Revenue Fund at the times and in the manner that the Minister of Finance considers appropriate.
Payment to Yukon
Marginal note:Payment of $3,500,000
130. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, the sum of three million, five hundred thousand dollars to Yukon.
Payment to Northwest Territories
Marginal note:Payment of $54,400,000
131. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, the sum of fifty-four million, four hundred thousand dollars to the Northwest Territories.
PART 11PAYMENTS TO CERTAIN ENTITIES
Nature Conservancy of Canada
Marginal note:Maximum payment of $225,000,000
132. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of the Environment, a sum not exceeding two hundred and twenty-five million dollars to the Nature Conservancy of Canada for its use.
Canada Health Infoway Inc.
Marginal note:Maximum payment of $400,000,000
133. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Health, a sum not exceeding four hundred million dollars to Canada Health Infoway Inc. for its use.
CANARIE Inc.
Marginal note:Maximum payment of $96,000,000
134. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding ninety-six million dollars to CANARIE Inc. for its use.
Genome Canada
Marginal note:Maximum payment of $100,000,000
135. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding one hundred million dollars to Genome Canada for its use.
Aid to Afghanistan
Marginal note:Afghanistan Reconstruction Trust Fund — $90,000,000
136. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of International Cooperation, a sum not exceeding ninety million dollars to the World Bank for the Afghanistan Reconstruction Trust Fund in respect of development assistance for Afghanistan.
Marginal note:UN Mine Action Service — $20,000,000
137. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of International Cooperation, a sum not exceeding twenty million dollars to the United Nations for use in UN Mine Action Service activities in Afghanistan.
Marginal note:UN Office on Drugs and Crime — $13,000,000
138. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding thirteen million dollars to the United Nations Office on Drugs and Crime, in respect of counter-narcotics initiatives for Afghanistan.
Marginal note:Counter Narcotics Trust Fund — $2,000,000
139. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding two million dollars to the United Nations Development Programme for the Counter Narcotics Trust Fund, in respect of counter-narcotics initiatives for Afghanistan.
Marginal note:Law and Order Trust Fund for Afghanistan — $10,000,000
140. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Foreign Affairs, a sum not exceeding ten million dollars to the United Nations Development Programme for the Law and Order Trust Fund for Afghanistan, for use consistent with the purposes of that fund.
Rick Hansen Man in Motion Foundation
Marginal note:Maximum payment of $30,000,000
141. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Health, a sum not exceeding thirty million dollars to the Rick Hansen Man in Motion Foundation for its use.
The Perimeter Institute for Theoretical Physics
Marginal note:Maximum payment of $50,000,000
142. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, a sum not exceeding fifty million dollars to The Perimeter Institute for Theoretical Physics for its use.
Canada Foundation for Sustainable Development Technology
Marginal note:Maximum payment of $200,000,000
143. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of the Environment and the Minister of Natural Resources, a sum not exceeding two hundred million dollars to the Canada Foundation for Sustainable Development Technology for its use.
PART 12AMENDMENTS RELATING TO FINANCIAL INSTITUTIONS
1991, c. 46Bank Act
Marginal note:2001, c. 9, s. 44; 2006, c. 4, s. 199
144. Section 21 of the Bank Act is replaced by the following:
Marginal note:Sunset provision
21. (1) Subject to subsections (2) and (3), banks shall not carry on business, and authorized foreign banks shall not carry on business in Canada, after October 24, 2007.
Marginal note:Extension
(2) The Governor in Council may, by order, extend by up to six months the time during which banks may continue to carry on business and authorized foreign banks may continue to carry on business in Canada. No more than one order may be made under this subsection.
Marginal note:Exception
(3) If Parliament dissolves on October 24, 2007, on any day within the three-month period before that day or on any day within an extension under subsection (2), banks may continue to carry on business, and authorized foreign banks may continue to carry on business in Canada, for 180 days after the first day of the first session of the next Parliament.
Marginal note:2001, c. 9, s. 183; 2006, c. 4, s. 199.1
145. Section 670 of the Act is replaced by the following:
Marginal note:Sunset provision
670. (1) Subject to subsections (2) and (3), bank holding companies shall not carry on business after October 24, 2007.
Marginal note:Extension
(2) The Governor in Council may, by order, extend by up to six months the time during which bank holding companies may continue to carry on business. No more than one order may be made under this subsection.
Marginal note:Exception
(3) If Parliament dissolves on October 24, 2007, on any day within the three-month period before that day or on any day within an extension under subsection (2), bank holding companies may continue to carry on business for 180 days after the first day of the first session of the next Parliament.
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