Compensation
6 (1) The Crown shall pay compensation to wpd White Pines Wind Incorporated in accordance with this section and the regulations. 2018, c. 10, Sched. 2, s. 6 (1); 2018, c. 17, Sched. 44, s. 1 (1). Amount (2) The amount of compensation payable to wpd White Pines Wind Incorporated under subsection (1) shall be determined in accordance with the following formula, subject to the exclusions specified in subsection (3) and any other exclusions that may be prescribed, and subject to subsection (4): (A + B + C) − (D + E) where, A = the expenses reasonably incurred by wpd White Pines Wind Incorporated in respect of the White Pines Wind Project in relation to, (i) development, acquisition, leasing and construction costs, (ii) employee termination payments, (iii) subcontractor losses or landowner losses, and (iv) decommissioning costs and other costs required to wind up the White Pines Wind Project, B = the debt amount and debt make-whole amount in respect of which wpd White Pines Wind Incorporated is liable in relation to the White Pines Wind Project, C = any additional amount or thing that may be prescribed, D = all of wpd White Pines Wind Incorporated accounts receivable related to the White Pines Wind Project, including any insurance proceeds due to wpd White Pines Wind Incorporated or which would have been due to it had it duly pursued any claim to which it might have been entitled, all amounts payable to wpd White Pines Wind Incorporated in relation to the White Pines Wind Project, other than any such amounts payable by the Crown under this Act, and all amounts in bank accounts belonging to wpd White Pines Wind Incorporated in relation to the White Pines Wind Project, and E = such rights and assets of wpd White Pines Wind Incorporated in respect of the White Pines Wind Project that are not referred to in “D” as may be prescribed. 2018, c. 10, Sched. 2, s. 6 (2); 2018, c. 17, Sched. 44, s. 1 (2, 3). Expenses (3) The following shall not be included as expenses for the purposes of “A” in subsection (2): 1. An expense that exceeds the fair market value of the goods or services for which it was incurred. 2. An expense for which wpd White Pines Wind Incorporated has been reimbursed by another person. 2018, c. 10, Sched. 2, s. 6 (3); 2018, c. 17, Sched. 44, s. 1 (4). Multiple calculations, payments permitted (3.1) The compensation may, in accordance with the regulations, if any, be calculated or paid under this section at different times with respect to different portions or elements of the formula set out in subsection (2) or with respect to different amounts within any portion or element of the formula, so long as the total amount of compensation paid conforms to the requirements of that subsection. 2018, c. 17, Sched. 44, s. 1 (5). Regulations may limit amount of compensation payable (4) The compensation payable in accordance with the formula set out in subsection (2) is subject to, (a) any monetary limits in the compensation payable under this section that may be prescribed; and (b) any monetary limits in compensating any expense or liability or any class of expense or liability that would otherwise be compensable under this section that may be prescribed. 2018, c. 10, Sched. 2, s. 6 (4). Timing and methodologies for determining or valuing amounts (5) The calculation of amounts under subsection (2) is subject to such rules as may be prescribed respecting, (a) dates or periods with respect to which any amount or thing referred to in the formula shall be determined or valued; or (b) methodologies for determining or valuing any amount or thing referred to in the formula. 2018, c. 17, Sched. 44, s. 1 (6). Compensation contingent on accounting (6) No compensation is payable in respect of an amount or thing described in subsection (2) unless wpd White Pines Wind Incorporated submits to the Crown, (a) a full accounting satisfactory to the Crown respecting the amount or thing, including such receipts or other proof of payment as the Crown may require, submitted in accordance with the regulations; and (b) any other financial or other documents or other information respecting the amount or thing that the Crown may specify, submitted in the time and manner specified by the Crown. 2018, c. 17, Sched. 44, s. 1 (6). Audit (7) wpd White Pines Wind Incorporated shall provide the Crown with reasonable access to their records, management staff, auditors and accountants for the purpose of reviewing and auditing any documents or other information submitted under subsection (6). 2018, c. 10, Sched. 2, s. 6 (7); 2018, c. 17, Sched. 44, s. 1 (7). No compensation for loss of goodwill, etc. (8) Unless provided for by regulations made for the purposes of “C” in subsection (2), no compensation is payable under this section for any opportunity costs or for any loss of goodwill or possible profits. 2018, c. 10, Sched. 2, s. 6 (8). Money appropriated by the Legislature (9) The compensation payable under this section shall be paid for out of the money appropriated for the purpose by the Legislature. 2018, c. 10, Sched. 2, s. 6 (9). Overpayment (9.1) Any amount paid to wpd White Pines Wind Incorporated under this section that exceeds the amount of compensation to which wpd White Pines Wind Incorporated is entitled under this section is a debt due to the Crown, and the Crown may recover the debt by action or by any other remedy or procedure available by law to the Crown for the collection of debts owed to the Crown. 2018, c. 17, Sched. 44, s. 1 (8). Disputes (10) Any dispute relating to this section shall be determined by binding arbitration under the Arbitration Act, 1991. 2018, c. 10, Sched. 2, s. 6 (10). Interpretation, portion of expense, etc. (11) A reference in this section and in regulations made for the purposes of this section to an expense, liability, asset or other amount or thing includes reference to a portion of the expense, liability, asset or other amount or thing. 2018, c. 17, Sched. 44, s. 1 (8). Section Amendments with date in force (d/m/y) 2018, c. 17, Sched. 44, s. 1 (1-8) - 06/12/2018