Softwood Lumber Products Export Charge Act, 2006

Version of section 4 from 2006-12-14 to 2010-07-11:


Marginal note:Interest to be paid

  •  (1) For the purposes of every provision of this Act that requires interest to be paid at a specified rate, the specified rate in effect during any particular calendar quarter is the total of

    • (a) the rate that is the simple arithmetic mean, expressed as a percentage per year and rounded to the next higher whole percentage where the mean is not a whole percentage, of all amounts each of which is the average equivalent yield, expressed as a percentage per year, of Government of Canada Treasury Bills that mature approximately three months after their date of issue and that are sold at auctions of Government of Canada Treasury Bills during the first month of the calendar quarter preceding the particular calendar quarter, and

    • (b) 4 %.

  • Marginal note:Interest to be paid by the Minister

    (2) For the purposes of every provision of this Act that requires interest at a specified rate to be paid on an amount payable by the Minister to a person or applied by the Minister against an amount owed by a person, the specified rate in effect during any particular calendar quarter is the total of

    • (a) the rate determined under paragraph (1)(a) in respect of the particular calendar quarter, and

    • (b) 2 %.

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