17. (1) The Regulations are amended by adding the following after section 7305.01:
7305.02 (1) For the purposes of subsection 80.3(4) of the Act, the following regions are prescribed regions of flood or excessive moisture:
(a) in respect of the 2008 calendar year, in Manitoba,
(i) the rural municipalities of Alonsa, Armstrong, Bifrost, Coldwell, Dauphin, Eriksdale, Ethelbert, Fisher, Gimli, Glenella, Grahamdale, Lakeview, Lawrence, McCreary, Mossey River, Mountain South, Ochre River, Rockwood, Siglunes, St. Andrews, St. Laurent, Ste. Rose and Woodlands, and
(ii) any reserve that is contiguous to a rural municipality referred to in subparagraph (i), or that is part of a series of contiguous reserves one of which is contiguous to a rural municipality referred to in subparagraph (i), of the bands designated as Dauphin River, Ebb and Flow, Fisher River, Kinonjeoshtegon First Nation, Lake Manitoba First Nation, Lake St. Martin, Little Saskatchewan, O-Chi-Chak-Ko-Sipi First Nation, Peguis, Pinaymootang First Nation, Sandy Bay and Skownan First Nation; and
(b) in respect of the 2009 calendar year, in Manitoba, the rural municipalities of Armstrong, Bifrost, Fisher and Gimli.
(2) For the purpose of this section, “band” and “reserve” have the same meaning as assigned by the Indian Act.
(2) Subsection (1) is deemed to have come into force on January 1, 2008.
Multilateral Debt Relief
Marginal note:Maximum payment of $2,500,000,000
18. (1) For the purpose of Canada’s contribution to the Multilateral Debt Relief Initiative, or for making contributions towards multilateral debt relief, there may, in respect of fiscal years in the period that begins on April 1, 2009 and ends on March 31, 2054, be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, sums, not exceeding in the aggregate $200 million in each fiscal year, to international organizations in order to make debt payments on behalf of eligible countries. No more than a total of $2.5 billion may be paid out under this subsection.
(2) The Minister of Finance may enter into arrangements or agreements with international organizations for the purpose of the payments referred to in subsection (1).
Payment to Nova Scotia — Offshore Petroleum Resources
Marginal note:Payment of $174,500,000
19. Before April 1, 2010, there may be paid to Nova Scotia out of the Consolidated Revenue Fund, on the requisition of the Minister of Natural Resources, $174,500,000.
Marginal note:R.S., c. B-7; R.S., c. 24 (1st Supp.), s. 3
(h) Pending uses specified under (f) above, the Fund may use a member’s currency held in the Special Disbursement Account for investment as it may determine, in accordance with rules and regulations adopted by the Fund by a seventy percent majority of the total voting power. The income of investment and interest received under (f)(ii) above shall be placed in the Special Disbursement Account.
(2) Section 12 of Article V of Schedule I to the Act is amended by adding the following after paragraph (j):
(k) Whenever under (c) above the Fund sells gold acquired by it after the date of the second amendment of this Agreement, an amount of the proceeds equivalent to the acquisition price of the gold shall be placed in the General Resources Account, and any excess shall be placed in the Investment Account for use pursuant to the provisions of Article XII, Section 6(f). If any gold acquired by the Fund after the date of the second amendment of this Agreement is sold after April 7, 2008 but prior to the date of entry into force of this provision, then, upon the entry into force of this provision, and notwithstanding the limit set forth in Article XII, Section 6(f)(ii), the Fund shall transfer to the Investment Account from the General Resources Account an amount equal to the proceeds of such sale less
(i) the acquisition price of the gold sold, and
(ii) any amount of such proceeds in excess of the acquisition price that may have already been transferred to the Investment Account prior to the date of entry into force of this provision.
- Date modified: