Vol. 142, No. 26 — December 24, 2008

Registration

SOR/2008-319 December 12, 2008

NOVA SCOTIA AND NEWFOUNDLAND AND LABRADOR ADDITIONAL FISCAL EQUALIZATION OFFSET PAYMENTS ACT

Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Regulations

P.C. 2008-1926 December 12, 2008

Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to section 33 of the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act(see footnote a), hereby makes the annexed Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Regulations.

NOVA SCOTIA AND NEWFOUNDLAND AND LABRADOR ADDITIONAL FISCAL EQUALIZATION OFFSET PAYMENTS REGULATIONS

INTERPRETATION

1. The following definitions apply in these Regulations.

“Act” means the Nova Scotia and Newfoundland and Labrador Additional Fiscal Equalization Offset Payments Act. (Loi)

“province” does not include Yukon, the Northwest Territories or Nunavut. (province)

“provincial general government sub-sector” means that component of the provincial government sector, as defined by Statistics Canada for the purpose of its financial management system. (sous-secteur des administrations provinciales générales)

APPLICATION

2. These Regulations apply in respect of additional fiscal equalization offset payments that may be made to Nova Scotia or Newfoundland and Labrador under the Act in respect of any fiscal year during the period beginning on April 1, 2009 and ending on March 31, 2020.

PAYMENTS

3. (1) The Minister shall pay Nova Scotia or Newfoundland and Labrador, as the case may be, the amount of any additional fiscal equalization offset payment payable to that province in respect of any fiscal year during the period beginning on April 1, 2009 and ending on March 31, 2020 – other than the fiscal year beginning on April 1, 2012 – within 30 days after the day on which the Minister determines the amount in accordance with the Act.

(2) For the fiscal year beginning on April 1, 2012, the Minister shall pay the amount of the payment within 30 days after the later of:

(a) the day on which the Minister determines the amount, and

(b) the day on which,

(i) in the case of a payment payable to Nova Scotia, Statistics Canada publishes, for the purpose of its financial management system, the financial liabilities and assets of the provincial general government sub-sector as of March 31, 2012; and

(ii) in the case of a payment payable to Newfoundland and Labrador, all provinces have released their Public Accounts for the fiscal year ending on March 31, 2012.

COMING INTO FORCE

4. These Regulations come into force on the day on which they are registered.

N.B. The Regulatory Impact Analysis Statement for these Regulations appears following SOR/2008-318, Regulations Amending the Federal-Provincial Fiscal Arrangements Act and the Federal-Provincial Fiscal Arrangements Regulations, 2007.

Footnote a
S.C. 2005, c. 30, s. 85

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