BILL C-405

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

EMPLOYMENT INSURANCE ACT

(a) ensure that there will be enough revenue over a business cycle to pay the expenses authorized to be charged to the Employment Insurance Account; and

(b) maintain relatively stable rate levels throughout the business cycle.

(a) a detailed description of the assets of the Commission on the first day of September in each year;

(b) a detailed description of the amounts that have been paid into or paid out of the Employment Insurance Account since the previous report;

(c) an estimate of the amounts to be paid into the Employment Insurance Account under this Act for the following year, calculated on the basis of the premium rate recommended by the Commission in the report;

(d) an estimate of the amounts to be paid out of the Employment Insurance Account under this Act for the following year, calculated on the basis of the amount of benefits to be paid according to the recommendations made by the Commission in the report; and

(e) any other information that the Commission considers necessary to explain the choice of recommendations contained in the report.

(a) ensure that that will be enough revenue over a business cycle to pay the expenses authorized to be charged to the Employment Insurance Account; and

(b) maintain relatively stable rate levels throughout the business cycle.

(a) all the amounts credited to the Employment Insurance Account - as this account existed immediately prior to the day this section comes into force - and not charged to this account for the purposes of this Act on the coming into force of this section;

(b) all amounts received under Parts I and III to IX, as or on account of premiums, fines, penalties, interest, repayment of overpaid benefits and benefit repayment;

(c) all amounts collected by the Commission for services rendered to other government departments or agencies or to the public;

(d) all amounts received on account of principal or interest on loans made by the Commission under Part II or as repayment of overpayments made by the Commission under that Part;

(e) all premiums required to be paid by Her Majesty in right of Canada as employer's premiums for persons employed in insurable employment by Her Majesty in right of Canada;

(f) all amounts paid into the Consolidated Revenue Fund that are

(i) received as or on account of penalties imposed under section 38, 39 or 65.1 and repayments of overpaid benefits, except interest and penalties on benefit repayment,

(ii) received on account of principal or interest on loans made by the Commission under Part II,

(iii) received as repayments of overpayments by the Commission under section 61 for employment benefits and support measures authorized by Part II,

(iv) received as repayments of overpayments by the Commission under agreements entered into under section 63, or

(v) received as interest under section 80.1;

(g) any amount provided out of the Consolidated Revenue Fund to the Commission by the Minister of Finance under section 74;

(h) any amount provided out of the Consolidated Revenue Fund appropriated by Parliament intended for any purpose related to employment insurance and administered by the Commission; and

(i) any other amounts paid into the Consolidated Revenue Fund or the Commission under this Act for any purpose related to employment insurance and administered by the Commission.

(a) shall become part of the assets of the Commission; and

(b) as they are paid in, shall be deposited with a financial institution within the meaning of the Financial Institutions Act, a body corporate to which the Trust and Loan Companies Act applies, or an association to which the Cooperative Credit Associations Act applies.

(a) manage the amounts paid into the Employment Insurance Account in the best interests of the contributors and beneficiaries under the employment insurance system; and

(b) subject to section 73, invest its assets with a financial institution, body corporate or association referred to in paragraph (2)(b) with a view to achieving a maximum rate of return, without undue risk of loss, having regard to the factors that may affect the funding of the employment insurance system provided for in this Act and the ability of the Commission to meet its financial obligations.

(a) all amounts paid as or on account of benefits under this Act;

(b) all amounts paid under section 61 for employment benefits and support measures authorized by Part II;

(c) all amounts paid under paragraph 63(a);

(d) the costs of administering this Act, including administration fees or costs paid under section 62 or paragraph 63(b);

(e) any amount paid by the Commission to Her Majesty in right of Canada under section 73; and

(f) any other amount that must be paid by the Commission under this Act.

(a) for the operation of sections 1 to 4 and 6 of the Act to amend the Employment Insurance Act and another Act in consequence, 1999; and

(b) amending sections of this Act or any other Act of Parliament to make them more consistent with sections 1 to 4 and 6 of the Act to amend the Employment Insurance Act and another Act in consequence, 1999.

Consequential Amendment

DEPARTMENT OF HUMAN RESOURCES DEVELOPMENT ACT