Canada–Newfoundland and Labrador Atlantic Accord Implementation Act

Marginal note:Definitions

• 218 (1) In this Part,

  Federal Minister

  ministre

  Federal Minister means the Minister of Finance; (ministre)

  first fiscal year of offshore production

  premier exercice de production extracôtière

  first fiscal year of offshore production means the fiscal year beginning on the first day of April immediately following the day on which the cumulative volume of production in the offshore area, measured as having flowed through the first sales meter, has reached an amount equal to 2,400,000 cubic metres of oil or a volume of gas or of a combination of oil and gas that is the energy equivalent thereto, as determined by the Minister of Natural Resources, in accordance with the regulations; (premier exercice de production extracôtière)

  Fiscal Arrangements Act

  loi de 1977

  Fiscal Arrangements Act means the Federal-Provincial Fiscal Arrangements and Federal Post-Secondary Education and Health Contributions Act, 1977; (loi de 1977)

  national average per capita fiscal capacity

  moyenne nationale

  national average per capita fiscal capacity means the per capita fiscal capacity of all of the provinces; (moyenne nationale)

  phase-out portion

  fraction dégressive

  phase-out portion means

  • (a) in respect of the first fiscal year of offshore production and each of the first three fiscal years following the first fiscal year of offshore production, ninety per cent,

  • (b) in respect of the fourth fiscal year following the first fiscal year of offshore production, eighty per cent,

  • (c) in respect of the fifth fiscal year following the first fiscal year of offshore production, seventy per cent,

  • (d) in respect of the sixth fiscal year following the first fiscal year of offshore production, sixty per cent,

  • (e) in respect of the seventh fiscal year following the first fiscal year of offshore production, fifty per cent,

  • (f) in respect of the eighth fiscal year following the first fiscal year of offshore production, forty per cent,

  • (g) in respect of the ninth fiscal year following the first fiscal year of offshore production, thirty per cent,

  • (h) in respect of the tenth fiscal year following the first fiscal year of offshore production, twenty per cent, and

  • (i) in respect of the eleventh fiscal year following the first fiscal year of offshore production, ten per cent; (fraction dégressive)

  province

  province

  province does not include the Northwest Territories, Yukon or Nunavut. (province)

• Marginal note:Determination of population

  (2) For the purposes of this Part, the population of a province for a fiscal year is the population of that province for that fiscal year, as determined for the purposes of Part I of the Fiscal Arrangements Act.