Budget and Economic Statement Implementation Act, 2007

Marginal note:Payments

• 144 (1) In respect of fiscal years beginning on or after April 1, 2008 and for the purpose of Canada’s contribution to the Advance Market Commitment, payments not exceeding in the aggregate the Canadian dollar equivalent of US$200 million — less the C$115 million that was paid under the authority of paragraph (b) of Order in Council P.C. 2007-368, which order was dated March 22, 2007 and made under section 3 of An Act to authorize the Minister of Finance to make certain payments, being chapter 36 of the Statutes of Canada, 2005 — may, on the requisition of the Minister for International Cooperation, be made out of the Consolidated Revenue Fund to international organizations in order to increase the availability of a vaccine for pneumococcal disease.

• Marginal note:Agreements

  (2) The Minister for International Cooperation may, subject to any terms or conditions that are established by the Governor in Council on the recommendation of the Minister for International Cooperation and the Minister of Finance, enter into agreements with international organizations for the purpose of the contribution referred to in subsection (1).

• Marginal note:Exchange rate

  (3) The rate of exchange that is to be used in order to determine the Canadian dollar equivalent of a payment that is made under subsection (1) is the rate that is determined, by the entity providing foreign banking services to the Receiver General, on the day on which the payment is made.