Short Title

1 These Regulations may be cited as the Fiscal Equalization Payments Regulations, 1992.

Interpretation

2 In these Regulations,

Act

Act means the Federal-Provincial Fiscal Arrangements and Federal Post-Secondary Education and Health Contributions Act; (Loi)

working day

working day means a day that is not a Saturday or a holiday. (jour ouvrable)

Fiscal Equalization Payment

• 3 (1) The estimate of the fiscal equalization payment that may be paid pursuant to the Act for the fiscal year beginning on April 1, 1992 to each province set out in column I of an item of the table to this section is the amount set out in column II of that item.

• (2) Notwithstanding subsection (1), beginning on November 12, 1992, the estimate of the fiscal equalization payment that may be paid pursuant to the Act for the fiscal year referred to in subsection (1) to the province set out in column I of an item of the table to this section is the amount set out in column III of that item.

• (3) Notwithstanding subsections (1) and (2), beginning on March 16, 1993, the estimate of the fiscal equalization payment that may be paid pursuant to the Act for the fiscal year referred to in subsection (1) to the province set out in column I of an item of the table to this section is the amount set out in column IV of that item.

  	Column I	Column II	Column III	Column IV
  Item	Province	Amount in Millions ($)	Amount in Millions ($)	Amount in Millions ($)
  1	Quebec	3,935	3,833.794	3,696.694
  2	Nova Scotia	1,001	983.824	940.822
  3	New Brunswick	928	942.054	937.218
  4	Manitoba	977	979.568	979.324
  5	Prince Edward Island	202	191.338	199.041
  6	Saskatchewan	565	570.249	605.016
  7	Newfoundland	953	930.182	911.189

• 4 (1) The Minister shall pay to each province set out in column I of an item of the table to section 3, on account of the amount of the estimate set out in column II of that item, an amount equal to one twenty-fourth of the amount of that estimate on the first and third working days after the fifteenth day of each month in the fiscal year that beginning on April 1, 1992.

• (2) Notwithstanding subsection (1), beginning on November 12, 1992, where the amount set out in column III of an item of the table to section 3 differs from the amount set out in column II of that item, the Minister shall

  • (a) where, on November 12, 1992, an amount remains payable to the province set out in column I of that item, adjust the remaining payments payable to that province pursuant to subsection (1) in accordance with the amount set out in column III of that item, beginning with the first payment following that date; and

  • (b) where, as of November 12, 1992, an over-payment has been made to the province set out in column I of that item, recover the amount of the over-payment from that province before the end of the fiscal year that began on April 1, 1992.

• (3) Notwithstanding subsections (1) and (2), beginning on March 16, 1993, where the amount set out in column IV of an item of the table to section 3 differs from the amount set out in column III of that item, the Minister shall

  • (a) where, on March 16, 1993, an amount remains payable to the province set out in column I of that item, adjust the remaining payments payable to that province pursuant to subsection (2) in accordance with the amount set out in column IV of that item, beginning with the payment on that date; and

  • (b) where, as of March 16, 1993, an over-payment has been made to the province set out in column I of that item, recover the amount of the over-payment from that province before the end of the fiscal year that began on April 1, 1992.