Law:Economic Recovery Act (stimulus)

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S.c. 2009, c. 31

Assented to 2009-12-15

An Act to implement certain provisions of the budget tabled in Parliament on January 27, 2009 and to implement other measures

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:


Contents

Short Title

Short title

1. This Act may be cited as the Economic Recovery Act (stimulus).


Part 1. Amendments Related To Income Tax

Income Tax Act

2. (Amendments)

3. (Amendment)

4. (Amendment)

5. (Amendments)

6. (Amendments)

7. (Amendments)

8. (Amendment)

9. (Amendment)

10. (Amendment)

11. (Amendment)

12. (Amendment)

13. (Amendments)

14. (Amendment)

15. (Amendment)


Income Tax Regulations

16. (Amendment)

17. (Amendment)


Part 2. Miscellaneous

Payments

Multilateral Debt Relief

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.

Agreements

(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

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.


Bretton Woods and Related Agreements Act

20. (Amendments)

21. (Amendments)

22. (Amendment)


Broadcasting Act

23. (Amendment)


Budget Implementation Act, 2009

24. (Amendment)


Canada Pension Plan

Amendments to the Act

25. (Amendment)

26. (Amendments)

27. (Amendments)

28. (Amendment)

29. (Amendment)

30. (Amendments)

31. (Amendment)

32. (Amendments)

33. (Amendment)

34. (Amendments)

35. (Amendment)

36. (Amendment)

37. (Amendment)

38. (Amendment)

39. (Amendment)

40. (Amendment)

41. (Amendments)

42. (Amendment)


Coming into Force

Subsection 114(2) of the Canada Pension Plan does not apply

43. (1) Subsection 114(2) of the Canada Pension Plan does not apply in respect of the amendments to that Act contained in sections 25 to 42.

Order in council


Canada Pension Plan Investment Board Act

Amendments to the Act

44. (Amendment)

45. (Amendments)


Coming into Force

April 1, 1998

46. Subsection 45(1) is deemed to have come into force on April 1, 1998.


Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act

47. (Amendments)

48. (Amendments)

49. (Amendment)

50. (Amendment)


Customs Tariff

Amendments to the Act

51. (Amendment)

52. (Amendment)

53. (Amendment)

54. (Amendment)

55. (Amendment)

56. (Amendment)


Coordinating Amendments

57. (Amendments)


Financial Administration Act

Amendments to the Act

58. (Amendment)

59. (Amendment)

60. (Amendment)


Coming into Force

April 1, 2011

61. Sections 58 to 60 come into force on April 1, 2011.


Public Service Superannuation Act

62. (Amendment)


Amendments Related to the Bankruptcy and Insolvency Act

Bankruptcy and Insolvency Act

63. (Amendment)

64. (Amendment)

65. (Amendment)

66. (Related provision)


Chapter 36 of the Statutes of Canada, 2007

67. (Amendment)

Schedule

(Amendment)


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