Federal-Provincial Fiscal Arrangements Regulations, 2007

14 (1) If the information required to be set out in the certificate is available, the Minister shall calculate a fiscal equalization payment on the basis of the information provided in the certificate.

(2) If any information required to be set out in the certificate is not available, the Minister shall

• (a) if that information is required to determine the revenue to be equalized from a revenue source for a fiscal year, estimate that revenue on the basis of any information that is available to the Minister at the time of the calculation of the fiscal equalization payment; and

• (b) if that information is required to calculate a revenue base for a fiscal year, estimate that revenue base, by substituting in the calculation of the base the information for the latest fiscal year or calendar year, as the case may be, prior to the fiscal year for which information for the revenue base is set out in the certificate.

(3) In the case where the Minister has made an estimate under paragraph (2)(b) of a revenue base referred to in paragraph 5(a) or (c) or any of paragraphs 8(1)(a), (d) to (f), (h), (j), (k), (z.2) and (z.3), the revenue base shall be replaced by the product of the estimate and a fraction

• (a) whose numerator is one plus a fraction whose numerator is the province’s percentage of the population of all 10 provinces for the fiscal year and whose denominator is that percentage for the prior fiscal year for which information for the revenue base is set out in the certificate; and

• (b) whose denominator is two.

(4) If, in accordance with paragraph (2)(b) or subsection (3), a revenue base for a revenue source for a fiscal year is estimated or replaced on the basis of information from an earlier fiscal year, the Minister may adjust that revenue base to take into account economic factors or trends that could change the provincial share of that revenue base between that earlier fiscal year and the fiscal year.

(5) If any of the information that is required to calculate a revenue base for a fiscal year is missing from the certificate and the Minister is unable to estimate or replace the revenue base in accordance with paragraph (2)(b) or subsection (3), the Minister shall, after consulting with Statistics Canada, estimate that revenue base on the basis of any information that is available to the Minister.