Bill C-93
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PART IX |
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EMPLOYMENT INSURANCE |
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1996, c. 23
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Employment Insurance Act |
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88. (1) Paragraph 25(1)(a) of the
Employment Insurance Act is replaced by
the following:
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(2) Subsection (1) comes into force or is
deemed to have come into force on April 1,
1997.
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89. (1) Section 26 of the Act is replaced by
the following:
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Benefits are
not earnings
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26. For the purposes of this Part, Part IV, the
Income Tax Act and the Canada Pension Plan,
benefits paid to a claimant while employed
under employment benefits, or under similar
benefits that are the subject of an agreement
under section 63, are not earnings from
employment.
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(2) Subsection (1) comes into force or is
deemed to have come into force on April 1,
1997.
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90. (1) Subsections 96(6) to (10) of the Act
are replaced by the following:
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Temporary
measure -
employer's
premium
refund for
1997
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(6) If an employer's premium is less than
$60,000 during 1996, the Minister shall
refund to the employer a portion of the
premium for 1997 determined by the
following formula if that amount is more than
$1:
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P2 - (P1 + $250 )
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where
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P1 is the amount of the
employer's premium in 1996; and
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P2 is the amount of the
employer's premium in 1997.
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Temporary
measure -
employer's
premium
refund for
1998
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(7) If an employer's premium is less than
$60,000 during 1996, the Minister shall
refund to the employer a portion of the
premium for 1998 determined by the
following formula if that amount is more than
$1:
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P2 - (P1 + $250) 4
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where
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P1 is the amount of the
employer's premium in 1996; and
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P2 is the amount of the
employer's premium in 1998.
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P1 can be
equal to zero
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(7.1) For the purposes of subsections (6) and
(7), P1 is equal to zero where a person was not
required to pay an employer's premium in
1996.
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Maximum
refund
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(8) A refund under subsection (6) or (7)
shall not exceed
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Interpreta- tion
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(8.1) For the purposes of subsections (6) to
(8), a reference to an employer's premium in
1996 includes the employer's premium
required to be paid that year under the
Unemployment Insurance Act.
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Associated
employers
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(9) If at any time during a year for which a
refund is sought two or more employers are
associated, as defined by the regulations, they
shall be considered a single employer for the
purposes of subsections (6) to (8) and any
refund shall be allocated to them in the
prescribed manner.
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Application
for refund
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(10) A refund under subsections (4) to (7) is
payable only if an application is made in
writing to the Minister within three years after
the end of the year for which the premium was
deducted or required to be paid.
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(2) Subsection (1) is deemed to have come
into force on January 1, 1997.
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Retroactive
effect of
regulations
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91. For the purpose of implementing the
amendments to the Employment Insurance
Act enacted by section 90, a regulation or
any provisions of a regulation made under
paragraph 108(1)(o) of that Act may, if the
regulation so provides, be retroactive and
have effect with respect to any period
before it is made that begins on or after
January 1, 1997.
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PART X |
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AMENDMENTS TO OTHER ACTS |
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R.S., c. B-7
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Bretton Woods and Related Agreements Act |
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92. The Bretton Woods and Related
Agreements Act is amended by adding the
following after section 8.1:
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Interim
financing
agreements
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8.2 (1) Where the Bank for International
Settlements has agreed to provide a credit
facility to a country seeking financial
assistance from the International Monetary
Fund or the International Bank for
Reconstruction and Development, and the
Minister of Finance is of the opinion that the
credit facility is necessary to facilitate the
provision of such financial assistance to the
country, the Minister may enter into an
agreement or arrangement with the Bank for
International Settlements to guarantee the
repayment of the principal and any interest
owing under the credit facility.
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Terms of
agreement
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(2) An agreement or arrangement entered
into under this section
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Bank of
Canada may
act as agent
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(3) The Bank of Canada, on the request of
the Minister of Finance, may act as agent of
the Minister for the purposes of subsection (1).
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Payment out
of C.R.F.
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(4) Any sum or sums required for the
purposes of this section shall be paid out of the
Consolidated Revenue Fund.
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1993, c. 14
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Farm Credit Corporation Act |
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93. Subsection 11(1) of the Farm Credit
Corporation Act is replaced by the
following:
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Capital
payments
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11. (1) At the request of the Corporation, the
Minister of Finance may, with the approval of
the Governor in Council, pay to the
Corporation, out of the Consolidated Revenue
Fund, amounts not exceeding in the aggregate
one billion, one hundred and seventy-five
million dollars, or such greater aggregate
amount as may be authorized from time to
time under an appropriation Act.
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PART XI |
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PAYMENT TO THE CANADA FOUNDATION FOR INNOVATION |
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$800,000,000
granted
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94. From and out of the Consolidated
Revenue Fund there may, on the requisition of
the Minister of Industry, be paid and applied
a sum not exceeding eight hundred million
dollars, plus interest thereon compounded
monthly based on the average daily balance
outstanding for the month and calculated from
the day on which this Act received first
reading in the House of Commons to the day
on which this Act is assented to at an annual
rate, in each month in which the interest is
calculated, that is equivalent to ninety per cent
of the simple arithmetic mean of the annual
rate of yield on the three month treasury bills
that were issued and sold in the immediately
preceding month, for payment to the Canada
Foundation for Innovation for its use.
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