Federal-Provincial Fiscal Arrangements Act

Marginal note:Time of calculation — ss. 3.2 to 3.4

• 3.91 (1) At a time determined by the Minister, no later than three months before the beginning of a fiscal year, the Minister shall calculate

  • (a) the fiscal equalization payment that may be paid to a province under sections 3.2 to 3.4 for that fiscal year on the basis that the province makes an election under subsection 3.2(2) for that fiscal year; and

  • (b) the fiscal equalization payment that may be paid to the province under those sections for that fiscal year on the basis that the province does not make an election under that subsection for that fiscal year.

• Marginal note:Deeming

  (2) Subsection (1) applies to Nova Scotia and Newfoundland and Labrador as if sections 3.2 to 3.4 applied to each of those provinces.

• Marginal note:Time of calculation — s. 3.6

  (3) At a time determined by the Minister, no later than three months before the end of a fiscal year, the Minister shall calculate

  • (a) the fiscal equalization payment that may be paid to Nova Scotia and Newfoundland and Labrador under section 3.6 for that fiscal year on the basis that both make an election under subsection 3.9(5) for that fiscal year;

  • (b) the fiscal equalization payment that may be paid to Nova Scotia and Newfoundland and Labrador under section 3.6 for that fiscal year on the basis that only Nova Scotia makes an election under subsection 3.9(5) for that fiscal year;

  • (c) the fiscal equalization payment that may be paid to Nova Scotia and Newfoundland and Labrador under section 3.6 for that fiscal year on the basis that only Newfoundland and Labrador makes an election under subsection 3.9(5) for that fiscal year; and

  • (d) the fiscal equalization payment that may be paid to Nova Scotia and Newfoundland and Labrador under section 3.6 for that fiscal year on the basis that neither makes an election under subsection 3.9(5) for that fiscal year.

• Marginal note:Cessation

  (4) Subsection (3) ceases to apply in respect of Nova Scotia or Newfoundland and Labrador if section 3.6 ceases to apply in respect of that province.

• Marginal note:Time of calculation — s. 3.72

  (5) The fiscal equalization amounts referred to in section 3.72 for a fiscal year shall be calculated no later than three months before the end of the fiscal year.