PART 24EMPLOYMENT INSURANCE FINANCING

1996, c. 23Employment Insurance Act

Amendments to the Act

2185. The Employment Insurance Act is amended by adding the following before the heading before section 71:

2186. Section 71 of the Act and the heading before it are repealed.

2187. Section 76 of the Act is repealed.

2188. Section 80 of the Act is repealed.

Marginal note:2005, c. 30, s. 131

2189. The portion of paragraph 153.2(2)(a) of the Act before subparagraph (i) is replaced by the following:

2190. Section 158 of the Act is repealed.

2191. Subsection 159(5) of the Act is repealed.

2192. Section 162 of the Act is repealed.

2193. Section 166 of the Act and the heading before it are repealed.

Marginal note:Terminology

2194. The Act is amended by replacing “Employment Insurance Account” with “Employment Insurance Operating Account” in the following provisions:

• (a) subsection 42(2);

• (b) the portion of section 73 before paragraph (a);

• (c) section 73.1;

• (d) section 74;

• (e) the portion of section 75 before paragraph (a);

• (f) the portion of subsection 77(1) before paragraph (a); and

• (g) section 78.

Transitional Provisions

Marginal note:Account closed

2195. The account in the accounts of Canada known as the Employment Insurance Account is deemed to have been closed at the beginning of January 1, 2009 and removed from the accounts of Canada at that time.

Marginal note:Section 76

2196. For greater certainty, any amount purporting to have been credited to the Employment Insurance Account on or after January 1, 2009 and charged to the Consolidated Revenue Fund under section 76 of the Employment Insurance Act is deemed to have never been credited to that Account and charged to that Fund.

Marginal note:Amounts credited and charged

2197. For greater certainty, all amounts credited or charged to the Employment Insurance Account on or after January 1, 2009 are deemed to have been credited or charged, as the case may be, to the Employment Insurance Operating Account established by section 70.2 of the Employment Insurance Act, as enacted by section 2185.

Marginal note:Appropriation Acts

2198. Every authority in any appropriation Act to make recoverable expenditures on behalf of the Employment Insurance Account in respect of the fiscal year 2010–2011 is deemed to be an authority to make recoverable expenditures on behalf of the Employment Insurance Operating Account established by section 70.2 of the Employment Insurance Act, as enacted by section 2185.

Marginal note:Employment Insurance Operating Account — audit for fiscal year 2008–2009

2199. The Auditor General of Canada shall audit the Employment Insurance Operating Account, established by section 70.2 of the Employment Insurance Act, as enacted by section 2185, in respect of the fiscal year 2008–2009, and a report of that audit shall be made to the Minister of Human Resources and Skills Development.

Marginal note:Employment Insurance Account — re-audit

2200. Despite sections 2186 and 2195, and as a consequence of the establishment of the Employment Insurance Operating Account by section 70.2 of the Employment Insurance Act, as enacted by section 2185, the Auditor General of Canada may re-audit the Employment Insurance Account in respect of any fiscal year if he or she considers it necessary to do so, and a report of that audit is to be made to the Minister of Human Resources and Skills Development.

Consequential Amendments

2005, c. 34Department of Human Resources and Skills Development Act

2201. Section 29 of the Department of Human Resources and Skills Development Act is replaced by the following:

SOR/96-332Employment Insurance Regulations

2202. Section 76.08 of the Employment Insurance Regulations is replaced by the following:

Marginal note:Terminology

2203. The Regulations are amended by replacing “Employment Insurance Account” with “Employment Insurance Operating Account” in the following provisions:

• (a) paragraph 76.27(1)(b); and

• (b) subsection 76.27(2).

2008, c. 28Budget Implementation Act, 2008

• 2204. (1) Section 127 of the Budget Implementation Act, 2008 is amended by replacing the subsections 66(1) to (3) that it enacts with the following:

  Marginal note:Premium rate setting

  • 66. (1) Subject to subsection (7) and section 66.3, the Board shall set the premium rate for each year in order to generate just enough premium revenue during that year to ensure that at the end of that year

    • (a) the total of the amounts credited to the Employment Insurance Operating Account after December 31, 2008 is equal to the total of the amounts charged to that Account after that date; and

    • (b) the forecast fair market value of the Board’s reserve is equal to the amount determined under subsection (5).

  • Marginal note:Factors

    (2) Subject to any regulations made under subsections 66.1(2) and 66.2(2), the Board shall set the premium rate based on

    • (a) the information provided under sections 66.1 and 66.2;

    • (b) the investment income earned by the Board;

    • (c) the Board’s obligation to manage a reserve, the amount of which is referred to in subsection (5);

    • (d) any regulations made under section 69;

    • (e) any changes, announced by the Minister on or before September 30 in a year, to payments to be made under paragraph 77(1)(a), (b) or (c) during the following year; and

    • (f) any other information that the Board considers relevant.

• (2) Section 127 of the Act is amended by replacing the subsection 66(5) that it enacts with the following:

  • Marginal note:Indexation

    (5) The amount referred to in paragraph (1)(b) is equal to the amount of the payment made under section 70.1, indexed annually, on a compound basis, beginning in the year in which that payment is made, in accordance with the regulations.

• (3) Section 127 of the Act is amended by replacing the subsection 66.1(1) that it enacts with the following:

  Marginal note:Information provided

  • 66.1 (1) The Minister shall, on or before September 30 in a year, provide the Board with the following information:

    • (a) if the Minister has made an announcement referred to in paragraph 66(2)(e), the forecast change in the amount of the payments to be made during the following year under paragraph 77(1)(a), (b) or (c), as the case may be;

    • (b) the forecast costs to be paid under paragraphs 77(1)(d) and (f) during the following year, including any forecast change in those costs resulting from any change to the payments referred to in paragraph (a);

    • (c) the total of the amounts charged to the Employment Insurance Operating Account as of the last day of the most recent month for which that total is known by the Minister; and

    • (d) any prescribed information.

• (4) Section 127 of the Act is amended by replacing the paragraph 66.1(2)(a) that it enacts with the following:

  • (a) prescribing information referred to in paragraph (1)(d); and

• (5) Section 127 of the Act is amended by replacing the paragraphs 66.2(1)(b) to (f) that it enacts with the following:

  • (b) the amounts forecast under subparagraphs 77.1(1)(a)(i) and (ii) and the total estimated under subparagraph 77.1(1)(a)(iii);

  • (c) the amount of any payment to be made under subsection 77.1(2) or (4) during the year; and

  • (d) any prescribed information.

• (6) Section 127 of the Act is amended by replacing the paragraph 66.2(2)(a) that it enacts with the following:

  • (a) prescribing information referred to in paragraph (1)(d); and

2205. Section 130 of the Act is amended by replacing the section 77.1 that it enacts with the following:

2206. Section 131 of the Act is repealed.

2008, c. 28, s. 121Canada Employment Insurance Financing Board Act

2207. Paragraph 14(3)(c) of the Canada Employment Insurance Financing Board Act is replaced by the following:

Coming into Force

Marginal note:January 1, 2009

• 2208. (1) Sections 2185 to 2187 and 2190 to 2194 are deemed to have come into force on January 1, 2009.

• Marginal note:2008, c. 28

  (2) Section 2188 comes into force on the day on which section 127 of the Budget Implementation Act, 2008 comes into force.