Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act

Marginal note:Fiscal equalization offset payments

224 The Federal Minister may pay to Her Majesty in right of the Province, at the time and in the manner prescribed, in respect of

• (a) the first fiscal year of offshore production,

• (b) each of the eight fiscal years following the first fiscal year of offshore production, and

• (c) where the first fiscal year of offshore production has the meaning assigned to that expression by paragraph (b) of the definition of that expression in subsection 223(1), the fiscal year immediately preceding the first fiscal year of offshore production,

a fiscal equalization offset payment not exceeding the amount computed in accordance with section 225.