• 1. (1) Subsection 2(5) of the Employment Insurance Act is replaced by the following:

  • Marginal note:Weeks of benefits paid

    (5) For the purposes of subsection 7(4.1) and section 145, the Commission may, with the approval of the Governor in Council, make regulations for establishing how many weeks of benefits a claimant was paid, in order to take into account benefit reductions or deductions in the calculation or payment of those benefits.

• (2) Regulations made under subsection 2(5) of the Act, as enacted by subsection (1), may, if they so provide, have effect with respect to any period before the commencement of this subsection.

2. Subsection 3(2) of the Act is replaced by the following:

• 3. (1) Section 4 of the Act is replaced by the following:

  Marginal note:Maximum yearly insurable earnings

  • 4. (1) For the purposes of subsection 14(1.1), section 17, subsection 82(2) and sections 95 and 145, the maximum yearly insurable earnings is $39,000 until the amount calculated in accordance with subsection (2) for a year, before rounding down under subsection (4), exceeds $39,000, in which case the maximum yearly insurable earnings for that year is that amount, rounded down under subsection (4).

  • Marginal note:Calculation of amount

    (2) The amount referred to in subsection (1) is the amount equal to 52 times the product obtained by multiplying

    • (a) the average for the twelve month period ending on June 30 in the preceding year of the Average Weekly Earnings for each month in that period

    by

    • (b) the ratio that the average for the twelve month period ending on June 30 in that preceding year of the Average Weekly Earnings for each month in that twelve month period bears to the average for the twelve month period ending twelve months prior to June 30 of that preceding year of the Average Weekly Earnings for each month in that twelve month period ending twelve months prior to June 30 of that preceding year.

  • Marginal note:Subsequent years

    (3) For years subsequent to the year in which the maximum yearly insurable earnings exceeds $39,000, before rounding down under subsection (4), the maximum yearly insurable earnings is the maximum yearly insurable earnings for the preceding year, before rounding down under subsection (4), multiplied by the ratio that the average for the twelve month period ending on June 30 in that preceding year of the Average Weekly Earnings for each month in that twelve month period bears to the average for the twelve month period ending twelve months prior to June 30 of that preceding year of the Average Weekly Earnings for each month in that twelve month period ending twelve months prior to June 30 of that preceding year.

  • Marginal note:Rounding down

    (4) If the amount calculated in accordance with subsection (2) or (3) is not a multiple of one hundred dollars, the amount of the maximum yearly insurable earnings is rounded down to the nearest multiple of one hundred dollars.

  • Marginal note:Average Weekly Earnings

    (5) The Average Weekly Earnings for a month is the average weekly earnings of the Industrial Aggregate in Canada for the month as published by Statistics Canada under the authority of the Statistics Act.

• (2) Section 4 of the Act, as enacted by subsection (1), applies in respect of the year 2002 and subsequent years.