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Economic Recovery Act (stimulus) (S.C. 2009, c. 31)

Act current to 2021-02-15 and last amended on 2012-01-01. Previous Versions

Economic Recovery Act (stimulus)

S.C. 2009, c. 31

Assented to 2009-12-15

An Act to implement certain provisions of the budget tabled in Parliament on January 27, 2009 and to implement other measures

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 Economic Recovery Act (stimulus).

PART 1Amendments Related to Income Tax

Income Tax Act

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Income Tax Regulations

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PART 2Miscellaneous

Payments

Multilateral Debt Relief

Marginal note:Maximum payment of $2,500,000,000

  •  (1) For the purpose of Canada’s contribution to the Multilateral Debt Relief Initiative, or for making contributions towards multilateral debt relief, there may, in respect of fiscal years in the period that begins on April 1, 2009 and ends on March 31, 2054, be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, sums, not exceeding in the aggregate $200 million in each fiscal year, to international organizations in order to make debt payments on behalf of eligible countries. No more than a total of $2.5 billion may be paid out under this subsection.

  • Marginal note:Agreements

    (2) The Minister of Finance may enter into arrangements or agreements with international organizations for the purpose of the payments referred to in subsection (1).

Payment to Nova Scotia — Offshore Petroleum Resources

Marginal note:Payment of $174,500,000

 Before April 1, 2010, there may be paid to Nova Scotia out of the Consolidated Revenue Fund, on the requisition of the Minister of Natural Resources, $174,500,000.

Bretton Woods and Related Agreements Act

 [Amendments]

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Broadcasting Act

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Budget Implementation Act, 2009

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Canada Pension Plan

Amendments to the Act

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Coming into Force

Marginal note:Subsection 114(2) of the Canada Pension Plan does not apply

  •  (1) Subsection 114(2) of the Canada Pension Plan does not apply in respect of the amendments to that Act contained in sections 25 to 42.

  • Marginal note:Order in council

    Footnote *(2) Sections 25 to 42 come into force, in accordance with subsection 114(4) of the Canada Pension Plan, on a day or days to be fixed by order of the Governor in Council.

    • Return to footnote *[Note: Sections 30 and 31, subsection 32(2) and sections 33, 34, 41 and 42 in force September 1, 2010, sections 25 to 29, subsection 32(1) and sections 35 to 40 in force January 1, 2012, see SI/2010-57.]

Canada Pension Plan Investment Board Act

Amendments to the Act

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Coming into Force

Marginal note:April 1, 1998

Footnote * Subsection 45(1) is deemed to have come into force on April 1, 1998.

  • Return to footnote *[Note: Section 44 and subsection 45(2) in force December 31, 2011, see SI/2011-116.]

Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act

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Customs Tariff

Amendments to the Act

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Coordinating Amendments

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Financial Administration Act

Amendments to the Act

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Coming into Force

Marginal note:April 1, 2011

 Sections 58 to 60 come into force on April 1, 2011.

Public Service Superannuation Act

 [Amendment]

Amendments Related to the Bankruptcy and Insolvency Act

Bankruptcy and Insolvency Act

 [Amendment]

 [Amendment]

 [Amendment]

 [Related provision]

Chapter 36 of the Statutes of Canada, 2007

 [Amendment]

 
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