Bill C-48

53-54 ELIZABETH II

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CHAPTER 36

An Act to authorize the Minister of Finance to make certain payments

[Assented to 20th July, 2005]

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

1. (1) Subject to subsection (3), the Minister of Finance may, in respect of the fiscal year 2005-2006, make payments out of the Consolidated Revenue Fund up to the amount that is the difference between the amount that would, but for those payments, be the annual surplus as provided in the Public Accounts for that year prepared in accordance with sections 63 and 64 of the Financial Administration Act and $2 billion.

(2) Subject to subsection (3), the Minister of Finance may, in respect of the fiscal year 2006-2007, make payments out of the Consolidated Revenue Fund up to the amount that is the difference between the amount that would, but for those payments, be the annual surplus as provided in the Public Accounts for that year prepared in accordance with sections 63 and 64 of the Financial Administration Act and $2 billion.

(3) The payments made under subsections (1) and (2) shall not exceed in the aggregate $4.5 billion.

2. (1) The payments made under subsections 1(1) and (2) shall be allocated as follows:

(a) for the environment, including for public transit and for an energy-efficient retrofit program for low-income housing, an amount not exceeding $900 million;

(b) for supporting training programs and en- hancing access to post-secondary education, to benefit, among others, aboriginal Canadi- ans, an amount not exceeding $1.5 billion;

(c) for affordable housing, including housing for aboriginal Canadians, an amount not exceeding $1.6 billion; and

(d) for foreign aid, an amount not exceeding $500 million.

(2) The Governor in Council may specify the particular purposes for which payments referred to in subsection (1) may be made and the amounts of those payments for the relevant fiscal year.

3. For the purposes of this Act, the Governor in Council may, on any terms and conditions that the Governor in Council considers appropriate, authorize a minister to

(a) develop and implement programs and projects;

(b) enter into an agreement with the government of a province, a municipality or any other organization or any person;

(c) make a grant or contribution or any other payment;

(d) subject to the approval of Treasury Board, supplement any appropriation by Parliament;

(e) incorporate a corporation any shares or memberships of which, on incorporation, would be held by, on behalf of or in trust for the Crown; or

(f) acquire shares or memberships of a corporation that, on acquisition, would be held by, on behalf of or in trust for the Crown.