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Budget Implementation Act, 2016, No. 1 (S.C. 2016, c. 7)

Assented to 2016-06-22

181 The Act is amended by adding the following after section 4.1:

Marginal note:Additional payment for 2016-2017

4.11 An amount may be paid to a territory equal to the difference between the amount determined by the Minister under paragraph (a) and the amount set out under paragraph (b) for that territory:

  • (a) the amount of the territorial formula financing payment that would have been paid to a territory for the fiscal year beginning on April 1, 2016, if that amount had been determined using the amount determined to be the gross expenditure base under subsection 4(2); and

  • (b) as the case may be,

    • (i) $878,040,329 in respect of Yukon,

    • (ii) $1,195,799,238 in respect of the Northwest Territories, and

    • (iii) $1,462,488,258 in respect of Nunavut.

DIVISION 8R.S., c. F-11Financial Administration Act

Amendments to the Act

Marginal note:2007, c. 29, s. 85

182 Section 43.1 of the Financial Administration Act is repealed.

183 The Act is amended by adding the following after section 46:

Marginal note:Authority to borrow money

46.1 In any fiscal year, the Governor in Council may by order authorize the Minister to borrow money for

  • (a) the payment of any amount that is required to be paid in that fiscal year in respect of any money borrowed under the authority of this Act or any other Act of Parliament;

  • (b) the extinguishment or reduction of any liability of Canada, if the Minister is of the opinion that the liability should be extinguished or reduced; or

  • (c) the payment, by Her Majesty, of any amount in extraordinary circumstances, including in the event of a natural disaster or to promote the stability or maintain the efficiency of the financial system in Canada, if the Minister is of the opinion that the borrowing of money is necessary in those circumstances.

Marginal note:2007, c. 29, s. 87

  • 184 (1) The portion of subsection 49(1) of the French version of the Act before paragraph (a) is replaced by the following:

    Marginal note:Rapport : gestion de la dette publique

    • 49 (1) Après le dépôt des Comptes publics devant la Chambre des communes, le ministre fait déposer devant chaque chambre du Parlement, dans les trente premiers jours de séance de celle-ci qui suivent ce dépôt, un rapport faisant état :

  • Marginal note:2007, c. 29, s. 87

    (2) Paragraph 49(1)(a) of the Act is replaced by the following:

    • (a) the money borrowed in the fiscal year to which the Public Accounts relate;

    • (a.1) the money that is borrowed under an order made under paragraph 46.1(c) and that is due; and

  • Marginal note:2007, c. 29, s. 87

    (3) Paragraph 49(1)(b) of the French version of the Act is replaced by the following:

    • b) des mesures qu’il a prises pendant l’exercice en cause à l’égard de la gestion de la dette publique.

  • Marginal note:2007, c. 29, s. 87

    (4) Paragraph 49(2)(a) of the Act is replaced by the following:

    • (a) the money to be borrowed in the next fiscal year and the purposes for which the moneys will be borrowed; and

185 The Act is amended by adding the following after section 49:

Marginal note:Report — borrowings in respect of extraordinary circumstances

49.1 The Minister shall cause to be tabled in each House of Parliament a report on the money borrowed or to be borrowed under an order made under paragraph 46.1(c) within the first 30 days on which that House is sitting after the day on which the Governor in Council’s authorization is given under that paragraph.

186 The Act is amended by adding the following after section 101:

Marginal note:Minister’s responsibility

101.1 In the exercise of the Minister’s powers and duties under subsections 127(2) and (3) in respect of an agent corporation, the Minister shall ensure that the total of the amounts borrowed by it, other than from the Crown, is not in excess of any limit established by any other Act of Parliament.

Coming into Force

Marginal note:Order in council

187 The provisions of this Division come into force on a day or days to be fixed by order of the Governor in Council.

DIVISION 9R.S., c. O-9Old Age Security Act

Amendments to the Act

Marginal note:2012, c. 19, s. 447

188 Section 2.2 of the Old Age Security Act is repealed.

  • 189 (1) Section 12.1 of the Act is amended by adding the following after subsection (2):

    • Marginal note:Increase on July 1, 2016

      (2.1) For any month in the payment quarter beginning on July 1, 2016,

      • (a) the amount determined for A in subsection (1) is the amount that would otherwise have been determined for A in that subsection for any month in that payment quarter plus $78.92; and

      • (b) the amount determined for A in subsection (2) in the case set out in paragraph (a) of A in that subsection is the amount that would otherwise have been determined in that case for A in that subsection for any month in that payment quarter plus $78.92.

  • Marginal note:2011, c. 15, s. 13

    (2) The portion of subsection 12.1(3) of the Act before paragraph (a) is replaced by the following:

    • Marginal note:Indexation

      (3) Subject to subsection (2.1), for the purpose of calculating the amount payable under subsection (1) or (2) for any month in a payment quarter beginning after September 30, 2011, the amount to be determined for A in that subsection is the amount obtained by multiplying

  • 190 (1) Section 22.1 of the Act is amended by adding the following after subsection (3):

    • Marginal note:Increase on July 1, 2016

      (3.1) The amount determined for A in subsection (3) for any month in the payment quarter beginning on July 1, 2016 is the amount that would otherwise have been determined for A in that subsection for any month in that payment quarter plus $78.92.

  • Marginal note:2011, c. 15, s. 14

    (2) The portion of subsection 22.1(4) of the Act before paragraph (a) is replaced by the following:

    • Marginal note:Indexation

      (4) Subject to subsection (3.1), for the purpose of calculating the amount payable under any of subsections (1) to (3) for any month in a payment quarter beginning after September 30, 2011, the amount to be determined for A in that subsection is the amount obtained by multiplying

Coming into Force

Marginal note:July 1, 2016

191 Sections 189 and 190 come into force, or are deemed to have come into force, on July 1, 2016.

DIVISION 10R.S., c. S-15Special Import Measures Act

Marginal note:1994, c. 47, s. 144(3)

192 The definition negligible in subsection 2(1) of the Special Import Measures Act is replaced by the following:

negligible

negligible means, in respect of the volume of goods of a country, less than 3% of the total volume of goods that are released into Canada from all countries and that are of the same description as the goods. However, if the total volume of goods of three or more countries — each of whose exports of goods into Canada is less than 3% of the total volume of goods that are released into Canada from all countries and that are of the same description — is more than 7% of the total volume of goods that are released into Canada from all countries and that are of the same description, the volume of goods of any of those countries is not negligible; (négligeable)

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