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Economic Recovery Act (stimulus) (S.C. 2009, c. 31)

Assented to 2009-12-15

Marginal note:1991, c. 11

Broadcasting Act

Marginal note:1994, c. 18, s. 18

23. Paragraph 46.1(3)(a) of the Broadcasting Act is replaced by the following:

  • (a) $220,000,000; or

Marginal note:2009, c. 2

Budget Implementation Act, 2009

  • 24. (1) Section 309 of the Budget Implementation Act, 2009 is replaced by the following:

    Marginal note:Maximum payment of $1,000,000,000

    309. There may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Industry, in accordance with terms and conditions approved by the Treasury Board, a sum not exceeding one billion dollars for the construction, renovation, refurbishment or repair of buildings and facilities at post-secondary institutions.

  • Marginal note:Coming into force

    (2) Subsection (1) is deemed to have come into force on March 12, 2009.

Marginal note:R.S., c. C-8

Canada Pension Plan

Amendments to the Act

Marginal note:1991, c. 44, s. 1

25. The portion of subsection 2(2) of the Canada Pension Plan before paragraph (a) is replaced by the following:

  • Marginal note:When specified age deemed to be reached

    (2) For the purposes of any provision of this Act in which reference is made to the reaching by a person of a specified age — other than a reference in paragraph 13(1)(c) or (e) or (1.2)(c), 17(c), 19(c) or (d) or 44(3)(a), section 70 or paragraph 72(1)(c) — the person is deemed to have reached the specified age at the beginning of the month following the month in which the person actually reached that age, and in computing

  • 26. (1) Subsection 12(1) of the Act is amended by striking out “or” at the end of paragraph (b) and by replacing paragraph (c) with the following:

    • (c) after they reach sixty-five years of age if

      • (i) a retirement pension is payable to them under this Act or under a provincial pension plan, and

      • (ii) subject to subsection (1.1), they make an election to exclude the income; or

    • (d) after they reach seventy years of age.

  • (2) Section 12 of the Act is amended by adding the following after subsection (1):

    • Marginal note:Election

      (1.1) An election referred to in subparagraph (1)(c)(ii)

      • (a) shall be made or revoked in the prescribed form and manner;

      • (b) shall commence to have effect on the first day of the month following the month in which it is made;

      • (c) shall cease to have effect on the first day of the month following the month in which it is revoked;

      • (d) may be made only once in a year;

      • (e) may not be revoked in the year in which it is made;

      • (f) may not be made in a year in which an election is revoked; and

      • (g) is deemed to be an election in respect of the person’s income from all pensionable employment and in respect of their self-employed earnings.

    • Marginal note:Consequence of not revoking election in prescribed form and manner

      (1.2) If a person does not revoke — in respect of an employer — an election in the prescribed form and manner, the contributory salary and wages referred to in paragraphs 8(1)(a) and 9(1)(a) do not, for the purposes of those paragraphs, include income from that employment. However, they may — in respect of that income — make an election under subsection 13(3) and pay the contribution required under section 10 within one year after their balance-due day.