Second Session, Thirty-ninth Parliament,
56-57 Elizabeth II, 2007-2008
STATUTES OF CANADA 2008CHAPTER 1
An Act respecting payments to a trust established to provide provinces and territories with funding for community development
ASSENTED TO
7th FEBRUARY, 2008
BILL C-41
RECOMMENDATION
Her Excellency the Governor General recommends to the House of Commons the appropriation of public revenue under the circumstances, in the manner and for the purposes set out in a measure entitled “An Act respecting payments to a trust established to provide provinces and territories with funding for community development”.
SUMMARY
This enactment authorizes the making of payments to provinces and territories for community development.
Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
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56-57 ELIZABETH II
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CHAPTER 1
An Act respecting payments to a trust established to provide provinces and territories with funding for community development
[Assented to 7th February, 2008]
Preamble
Whereas Canada intends to support vulnerable communities through a national initiative to provide provinces and territories with funding in support of activities to strengthen the economic opportunities for communities and workers negatively affected by international economic volatility;
Now, therefore, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Maximum payment of $1,000,000,000
1. (1) The Minister of Finance may make direct payments, in an aggregate amount not exceeding one billion dollars, to a trust established to provide provinces and territories with funding to support provincial and territorial initiatives to assist the adjustment of vulnerable communities to international economic vola­tility.
Provincial or territorial share
(2) The amount that may be provided to a province or territory under this section is to be determined in accordance with the terms of the trust indenture establishing the trust.
Payments out of C.R.F.
(3) Any amount payable under this section may be paid out of the Consolidated Revenue Fund, on the requisition of the Minister of Finance, at the times and in the manner that the Minister of Finance considers appropriate.
Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada