Budget Implementation Act, 2008 (S.C. 2008, c. 28)

Act current to 2018-10-24 and last amended on 2012-06-29. Previous Versions

Budget Implementation Act, 2008

S.C. 2008, c. 28

Assented to 2008-06-18

An Act to implement certain provisions of the budget tabled in Parliament on February 26, 2008 and to enact provisions to preserve the fiscal plan set out in that budget

Preamble

Whereas, when the Government of Canada tables a budget in Parliament, a fiscal plan is an integral part of that budget;

Whereas the Government of Canada is committed to meeting the challenge of global economic uncertainty with a responsible, prudent and effective fiscal plan as reflected in the Budget Plan tabled in Parliament on February 26, 2008;

Whereas it is imperative to preserve the fiscal integrity of that Budget Plan and the integrity of the budget process, and important not to risk the Government of Canada going into deficit;

And whereas it is expedient to implement certain provisions of that Budget Plan;

Now, therefore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

Short Title

Marginal note:Short title

 This Act may be cited as the Budget Implementation Act, 2008.

PART 1Amendments Related to Income Tax

Income Tax Act

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Canada Pension Plan

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Employment Insurance Act

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Coordinating Amendments

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Conditional Amendments

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Footnote * Sections 46 and 47 come into force, or are deemed to have come into force, on the day on which the other Act receives royal assent.

PART 2Amendments in Respect of Excise Duty on Tobacco Products and Alcohol

Excise Act

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Excise Act, 2001

Amendments to the Act

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Application

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Related Amendments

Customs Tariff

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PART 3Amendments in Respect of the Goods and Services Tax and Harmonized Sales Tax (GST/HST)

Excise Tax Act

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PART 4Canada Millennium Scholarship Foundation

Dissolution of the Foundation

Marginal note:Liquidation

  •  (1) Within six months after the day on which this subsection comes into force, or any longer time that the Governor in Council determines on the recommendation of the Minister of Human Resources and Skills Development, the Canada Millennium Scholarship Foundation, established by section 3 of the Budget Implementation Act, 1998 and referred to in this Part as “the Foundation”, shall sell or otherwise dispose of all of its property other than property referred to in subsection (3) and discharge all of its liabilities, on terms and conditions that are approved by the Governor in Council.

  • Marginal note:Donations of money

    (2) Despite subsection (1), money that was donated to the Foundation under section 21 of the Budget Implementation Act, 1998 — including any income arising from the investment of the money — and that was not used for carrying out the objects and purposes of the Foundation shall be paid to the donor.

  • Marginal note:Transfer to department

    (3) Within the period referred to in subsection (1), the Foundation shall transfer to the Department of Human Resources and Skills Development the following things, including any electronic versions of them:

    • (a) the books of account and other records referred to in section 35 of the Budget Implementation Act, 1998, as well as any information that the Foundation collected in order to produce them;

    • (b) all other information that the Foundation has under its control concerning persons who have received scholarships or any other financial assistance from it;

    • (c) any studies that the Foundation has under its control, and any other information that it has collected through research; and

    • (d) any database containing information related to any of those books of account and other records, that other information and those studies, as well as any information necessary in order to use the database.

  • Marginal note:Remaining money

    (4) After satisfying the obligations set out in subsections (1) to (3), the Foundation shall deposit all of its remaining money in the Consolidated Revenue Fund to the credit of the Receiver General.

  • Marginal note:Dissolution

    (5) The Foundation is dissolved.

 
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