Fiscal Equalization Payments Regulations, 1992
SOR/92-210
FEDERAL-PROVINCIAL FISCAL ARRANGEMENTS ACT
Registration 1992-04-10
Regulations Respecting Fiscal Equalization Payments in Respect of the Fiscal Year Beginning on April 1, 1992
P.C. 1992-756 1992-04-10
His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 40Footnote * of the Federal-Provincial Fiscal Arrangements and Federal Post-Secondary Education and Health Contributions Act, is pleased hereby to make the annexed Regulations respecting fiscal equalization payments in respect of the fiscal year beginning on April 1, 1992.
Return to footnote *S.C. 1992, c. 10, s. 7
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.
TABLE
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
- SOR/92-639, s. 1
- SOR/93-138, s. 1
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.
- SOR/92-639, s. 2
- SOR/93-138, s. 2
- Date modified: