Broadcasting Distribution Regulations

54 (1) If, as a result of the calculations performed under subsection 53(1), a contribution made by a licensee for a broadcast year is greater than the amount required under section 52, the licensee may deduct the excess from the amount of that contribution that is required for the subsequent broadcast year; however, if it is less than the amount required, the licensee shall make the balance of the contribution by December 31 of the subsequent broadcast year.

(2) Despite subsection (1), if, as a result of the calculations performed under subsection 53(1), the contribution made by a licensee under subparagraph 52(c)(ii) is greater than the amount required to be contributed under that provision, the licensee is entitled to a refund of the excess.