Employment Insurance Regulations

76.26 (1) The Minister of National Revenue shall pay to a province that has a provincial plan a premium adjustment consisting of the aggregate of :

• (a) the amount obtained by adding together, for all insured persons referred to in section 76.24 who reside in that province on December 31 of a year, the amounts calculated in respect of each such insured person that represent the lesser of

  • (i) the total of

    • (A) all amounts that are deducted by employers in that year and that represent the premium reduction, as or on account of employee’s premiums, for the insured person, and

    • (B) all amounts representing an overpayment of employee’s premiums under Part IV of the Act in respect of the insured person for that year, and

  • (ii) all amounts that the insured person owes in that year under the provincial plan, and

• (b) the total of all amounts that represent the premium reduction and that are remitted by employers in that year as employer’s premiums for every insured person referred to in section 76.24 who resides in that province on December 31 of that year.

(2) The payment referred to in subsection (1) may be made by the Commissioner of Revenue.