Budget Implementation Act, 2018, No. 1 (S.C. 2018, c. 12)

Minister

Minister, other than in sections 25 to 25.5, means the Minister of Finance; (ministre)

Marginal note:Fiscal equalization payment

3 Subject to the other provisions of this Act, there may be paid to a province a fiscal equalization payment not exceeding the amounts determined under this Part for each fiscal year in the period beginning on April 1, 2007 and ending on March 31, 2024.

Marginal note:Territorial formula financing payments

• 4.1 (1) Subject to the other provisions of this Act, there may be paid to a territory a territorial formula financing payment not exceeding the amounts determined under this Part for each fiscal year in the period beginning on April 1, 2014 and ending on March 31, 2024.

Other Payments

Marginal note:Payments — Yukon and Northwest Territories

4.12 The following amounts may be paid for each fiscal year in the period beginning on April 1, 2019 and ending on March 31, 2024:

• (a) to Yukon, $1,270,000; and

• (b) to the Northwest Territories, $1,744,000.

Marginal note:Reduction or withholding — Canada Health Transfer and Canada Social Transfer

25 Subject to section 25.01, the cash contribution that may be provided to a province under section 24.2, 24.21, 24.5 or 24.51 is to be reduced or withheld for the purposes of giving effect to

Marginal note:Reimbursement — Canada Health Transfer

• 25.01 (1) A cash contribution provided to a province under section 24.21 may be increased by reimbursing, in whole or in part, a deduction referred to in paragraph 25(b).

• Marginal note:Certificate for reimbursement of deduction

  (2) If the Minister of Health is of the opinion that the circumstances giving rise to a deduction made under section 20 of the Canada Health Act no longer exist, he or she may issue a reimbursement certificate that sets out

  • (a) the details of the deduction, including the amount of extra-billing or user charges, the province to which it applies and the fiscal year in which the deduction was made; and

  • (b) the amount to be reimbursed.

• Marginal note:Time period

  (3) The Minister of Health may issue a reimbursement certificate under subsection (2) in the fiscal year in which the deduction was made or in the following two fiscal years and he or she must provide it to the Minister of Finance no later than March 6 of the final fiscal year in which the reimbursement may be made.

• Marginal note:Reimbursement

  (4) A reimbursement under this section must be made by the Minister of Finance upon receipt of a reimbursement certificate within the time period set out in subsection (3).

• Marginal note:Application

  (5) This section only applies to deductions made after March 31, 2017.

• (d) buy and sell securities issued or guaranteed by the government of the United States, of Japan, of the United Kingdom or of a member state of the European Union;

Marginal note:Exchange Fund Account continued

• 17 (1) The special account in the name of the Minister known as the Exchange Fund Account is continued, and all assets acquired and held by or on behalf of the Minister in the Exchange Fund Account continue to be so held.

• Marginal note:Purposes of Account

  (2) The purposes of the Exchange Fund Account are

  • (a) to aid in the control and protection of the external value of the monetary unit of Canada; and

  • (b) to provide a source of liquidity for the Government of Canada.

Marginal note:Advances out of and payments into C.R.F.

19 The Minister may, on any terms and conditions that he or she considers appropriate, authorize

• (a) advances to the Exchange Fund Account out of the Consolidated Revenue Fund; and

• (b) payments out of the Exchange Fund Account into the Consolidated Revenue Fund.

Note Issue and Removal

• Marginal note:Arrangements for issue and removal

  (2) It is the duty of the Bank to make adequate arrangements for

  • (a) the issue of its notes in Canada and the supply of those notes as required for circulation in Canada; and

  • (b) the removal from circulation in Canada of

    • (i) its notes that are worn or mutilated, and

    • (ii) its notes that are the subject of an order made under paragraph 9(1)(b) of the Currency Act, regardless of whether the order has come into force.

Current Coins and Notes

Marginal note:Current notes

7.1 A note is current for the amount of its denomination in the currency of Canada if it was issued under the authority of the Bank of Canada Act.