This Act sets implementation rules, including ministerial payment powers, a notice duty for the Minister of Finance, and several provisions that come into force on dates fixed by the Governor in Council.
An Act to implement certain provisions of the budget tabled in Parliament on March 19, 2007 and to implement certain provisions of the economic statement tabled in Parliament on October 30, 2007 Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: Short title This Act may be cited as the Budget and Economic Statement Implementation Act, 2007. [Amendment] [Amendments] Sections 101 to 129 apply to the 2008 and subsequent taxation years, except that section 101 also applies to the 2007 taxation year. Enactment of Act The Canada Disability Savings Act is enacted as follows: Order in council The provisions of the Canada Disability Savings Act, as enacted by section 136, and section 137 come into force on a day or days to be fixed by order of the Governor in Council. [Note: Sections 136 and 137 in force December 1, 2008, see SI/2008-63.] The Bank for International Settlements (Immunity) Act is enacted as follows: This Part comes into force on a day to be fixed by order of the Governor in Council. [Note: Part 7 in force March 31, 2009, see SI/2009-25.] Payments 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 Development, be made out of the Consolidated Revenue Fund to international organizations in order to increase the availability of a vaccine for pneumococcal disease. Agreements The Minister for International Development may, subject to any terms or conditions that are established by the Governor in Council on the recommendation of the Minister for International Development and the Minister of Finance, enter into agreements with international organizations for the purpose of the contribution referred to in subsection (1). Exchange rate 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. Calculation re fiscal year 2008-2009 If section 165 of this Act comes into force after a calculation has already been made under section 3.91 of the Federal-Provincial Fiscal Arrangements Act of the fiscal equalization payment that may be paid to a province under section 3.6 of that Act for the fiscal year beginning on April 1, 2008, the Minister of Finance may, under section 3.91 of that Act, as enacted by section 165 of this Act, recalculate the fiscal equalization payment that may be paid to the province under section 3.6 of the Federal-Provincial Fiscal Arrangements Act for that fiscal year. [Repealed, 2015, c. 4, s. 116] Newfoundland and Labrador Section 172 comes into force, or is deemed to have come into force, on April 1 of the first fiscal year in respect of which Newfoundland and Labrador makes the election under subsection 3.7(3) of the Federal-Provincial Fiscal Arrangements Act. Notice The Minister of Finance shall publish in the Canada Gazette the date on which section 172 comes into force. [Note: Section 172 in force April 1, 2010, see Canada Gazette Part I, Volume 146, page 26.] There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, a sum not exceeding five million dollars, to an entity designated by the Minister of Finance, to facilitate public-private partnership projects in respect of that entity’s operating and capital expenditures for each of fiscal years 2007-2008 and 2008-2009. For the purposes of applying the provisions of the Customs Act that provide for the payment of, or the liability to pay, interest in respect of any amount, the amount shall be determined and interest shall be computed on it as though sections 204 to 208 had come into force on January 1, 2008.