BILL NO. 62

(as passed, with amendments)

1st Session, 59th General Assembly
Nova Scotia
53 Elizabeth II, 2004



Government Bill



Financial Measures (2004) Act

CHAPTER 3 OF THE ACTS OF 2004



The Honourable Peter G. Christie
Minister of Finance



First Reading: April 26, 2004 (LINK TO BILL AS INTRODUCED)

Second Reading: May 6, 2004

Third Reading: May 20, 2004 (WITH COMMITTEE AMENDMENTS)

Royal Assent: May 20, 2004

An Act Respecting Certain
Financial Measures

1 This Act may be cited as the Financial Measures (2004) Act.

PART I

COMPANIES ACT

2 (1) Subsection 5(2) of Chapter 81 of the Revised Statutes, 1989, the Companies Act, as enacted by Chapter 5 of the Acts of 2002, is amended by striking out "two" in the second line and substituting "four".

(2) Subsection 5(3) of Chapter 81, as enacted by Chapter 5 of the Acts of 2002, is amended by striking out "two" in the second line and substituting "four".

PART II

CORPORATION CAPITAL TAX ACT

3 Section 9 of Chapter 99 of the Revised Statutes, 1989, the Corporation Capital Tax Act, as enacted by Chapter 10 of the Acts of 1990, is amended by

(a) striking out "and" at the end of clause (a); and

(b) striking out clause (b) and substituting the following clauses:

PART III

CORPORATIONS REGISTRATION ACT

4 (1) Section 5 of Chapter 101 of the Revised Statutes, 1989, the Corporations Registration Act, as amended by Chapter 5 of the Acts of 2002, is further amended by adding immediately after subsection (3) the following subsection:

(2) Subsection 5(4) of Chapter 101, as enacted by Chapter 5 of the Acts of 2002, is amended by

(a) striking out "one" in the third line and substituting "two"; and

(b) striking out "regulations" in the last line and substituting "Section 12".

5 (1) Subsection 12(1) of Chapter 101, as amended by Chapter 5 of the Acts of 2002, is further amended by

(a) striking out "Subject to subsections (2), (3) and (3A), every" in the first line and substituting "Every"; and

(b) striking out ", the amount of which shall be determined by the Governor in Council" in the fifth, sixth and seventh lines and substituting "as set out in this Section".

(2) Subsection 12(2) of Chapter 101 is amended by striking out "twenty-five" in the third line and substituting "thirty".

(3) Section 12 of Chapter 101, as amended by Chapter 5 of the Acts of 2002, is further amended by adding immediately after subsection (2) the following subsections:

(2A) In the case of a domestic corporation, the amount of the fee shall be ninety-five dollars.

(2B) In the case of a Dominion or foreign corporation, the amount of the fee shall be two hundred and twenty dollars.

(2C) In the case of a corporation carrying on the business of insurance, the amount of the fee shall be two hundred and seventy dollars.

(4) Subsection 12(3A) of Chapter 101, as enacted by Chapter 5 of the Acts of 2002, is amended by

(a) striking out "one" in the third line and substituting "two"; and

(b) striking out "regulations" in the last line and substituting "subsection (2A)".

(5) Subsection 12(5) of Chapter 101 is repealed.

(6) Subsection 12(7) of Chapter 101 is amended by

(a) adding "subsection (2C) or" immediately after "Notwithstanding" in the first line; and

(b) striking out "fifty" in the second last line and substituting "seventy".

(7) Subsection 12(8) of Chapter 101 is amended by adding "and thirty" immediately after "hundred" in the fourth line.

PART IV

COSTS AND FEES ACT

6 (1) Subsection 2(1) of Chapter 104 of the Revised Statutes, 1989, the Costs and Fees Act, is repealed and the following subsection substituted:

7 Section 6 of Chapter 104, as amended by Chapter 1 of the Acts of 1999 (2nd Sess.), is further amended by striking out "Schedule to Part I of this Act" in the fifth line and substituting "regulations".

8 Subsection 15(2) of Chapter 104 is amended by striking out "Schedule to this Part" in the fifth line and substituting "regulations".

9 (1) Subsection 16(1) of Chapter 104 is amended by striking out "Schedule to this Part" in the fifth line and substituting "regulations".

(2) Subsection 16(2) of Chapter 104 is amended by striking out "Schedule to this Part" in the third line and substituting "regulations".

10 Section 17 of Chapter 104 is amended by striking out "Schedule to this Part" in the fifth line and substituting "regulations".

11 Section 19 of Chapter 104 is amended by striking out "Schedule to this Part" in the second line and substituting "regulations".

12 Subsection 21(1) of Chapter 104 is amended by

(a) striking out "Part" in the second line and substituting "Act"; and

(b) striking out clause (a) and substituting the following clauses:

13 Section 25 of Chapter 104 is amended by striking out "(Form C in the Schedule to this Part)" in the first and second lines.

14 The Schedule to Part I and the Schedule to Part II to Chapter 104 are repealed.

15 The fees and allowances set out in the Schedule to Part I and the Schedule to Part II to Chapter 104 of the Revised Statutes, 1989, the Costs of Fees Act, immediately before the coming into force of Section 14 of this Act, are deemed to be regulations made pursuant to subsection 2(1) of that Act until the fees or allowances are amended or repealed pursuant to that subsection.

PART V

EDUCATION ACT

16 Sections 10A to 10K of Chapter 1 of the Acts of 1995-96, the Education Act, are repealed and the following Sections substituted:

17 Section 64 of Chapter 1, as amended by Chapter 5 of the Acts of 2002, is further amended by adding immediately after subsection (4) the following subsections:

18 Subsection 68(2) of Chapter 1, as amended by Chapter 5 of the Acts of 2002, is further amended by

(a) striking out "or" at the end of clause (a); and

(b) adding the following clause:

19 Subsection 146(1) of Chapter 1, as amended by Chapter 11 of the Acts of 2000 and Chapter 5 of the Acts of 2002, is further amended by adding immediately after clause (x) the following clauses:

PART VI

ENVIRONMENT ACT

20 Clause 8(2)(k) of Chapter 1 of the Acts of 1994-95, the Environment Act, is repealed and the following clause substituted:

21 Subsection 25(1) of Chapter 1 is amended by adding immediately after clause (f) the following clause:

PART VII

EQUITY TAX CREDIT ACT

22 Subsection 15(1) of Chapter 3 of the Acts of 1993, the Equity Tax Credit Act, as amended by Chapter 3 of the Acts of 2001 and Chapter 4 of the Acts of 2003, is further amended by striking out "2004" in the second line and substituting "2009".

23 Subsection 18(1) of Chapter 3 is repealed and the following subsection substituted:

PART VIII

HOUSE OF ASSEMBLY ACT

24 Section 45 of Chapter 1 (1992 Supplement) of the Revised Statutes, 1989, the House of Assembly Act, as amended by Chapter 47 of the Acts of 2001 and Chapter 34 of the Acts of 2002, is further amended by adding immediately after subsection (6) the following subsections:

PART IX

INNOVATION CORPORATION ACT

25 Subsection 19(1) of Chapter 5 of the Acts of 1994-95, the Innovation Corporation Act, is amended by striking out "transfer" in the second line and substituting "advance".

PART X

INCOME TAX ACT

26 Section 8 of Chapter 217 of the Revised Statutes, 1989, the Income Tax Act, as enacted by Chapter 4 of the Acts of 2000 and amended by Chapter 4 of the Acts of 2003, is further amended by

(a) striking out "13.58%" in the first line of clause (b) and substituting "14.95%";

(b) striking out "and" at the end of clause (b);

(c) striking out clause (c) and substituting the following clause:

and

(d) adding the following clause:

27 Clause 38(2)(b) of Chapter 217 is repealed and the following clause substituted:

28 Subsection 71(1) of Chapter 217, as enacted by Chapter 4 of the Acts of 2000, is amended by

(a) adding "multiplied by the amount that the number of days in the year that are before April 1, 2004, is of three hundred and sixty-five and 0.6% of taxable capital employed in the Province for the years as determined under subsection (2) multiplied by the amount that the number of days in the year that are after March 31, 2004, is of three hundred and sixty-five" immediately after "(2)" in the last line of clause (a); and

(b) adding "multiplied by the amount that the number of days in the year that are before April 1, 2004, is of three hundred and sixty-five and 0.30% of the taxable capital employed in the Province for the year as determined under subsection (2) multiplied by the amount that the number of days in the year that are after March 31, 2004, is of three hundred and sixty-five" immediately after "(2)" in the last line of clause (b).

PART XI

PAYMENT INTO COURT ACT

29 Section 4 of Chapter 338 of the Revised Statutes, 1989, the Payment into Court Act, is amended by adding "and thirty-three one hundredths" immediately after "five" in the sixth line.

PART XII

PERSONAL PROPERTY SECURITY ACT

30 Chapter 13 of the Acts of 1995-96, the Personal Property Security Act, is amended by adding immediately after Section 44 the following Section:

PART XIII

PROBATE ACT

31 Subsection 87(2) of Chapter 31 of the Acts of 2000, the Probate Act, as amended by Chapter 5 of the Acts of 2001 and Chapter 5 of the Acts of 2002, is further amended by

(a) striking out "$165" in the second line of clause (b) and substituting "$176";

(b) striking out "$275" in the second line of clause (c) and substituting "$293";

(c) striking out "$770" in the second line of clause (d) and substituting "$820";

(d) striking out "$770" in the first line of clause (e) and substituting "$820"; and

(e) striking out "$13" in the second line of clause (e) and substituting "$13.85".

PART XIV

PROVINCIAL FINANCE ACT

32 Section 10 of Chapter 365 of the Revised Statutes, 1989, the Provincial Finance Act, as enacted by Chapter 3 of the Acts of 1997, is amended by striking out "December 31st" in the second and third lines and substituting "September 30th".

33 Section 19 of Chapter 365 is repealed and the following Section substituted:

34 Subsection 60A(1) of Chapter 365, as enacted by Chapter 5 of the Acts of 1996 and amended by Chapter 13 of the Acts of 1998, is further amended by adding "shall be paid into the Debt Retirement Fund and" immediately preceding "be" in the third line.

35 (1) Subsection 62A(1) of Chapter 365, as enacted by Chapter 29 of the Acts of 1994, is amended by striking out "Retirement" in the third line and substituting "Management".

(2) Subsection 62A(2) of Chapter 365, as enacted by Chapter 29 of the Acts of 1994, is amended by

(a) striking out "Retirement" in the first and second lines of clause (a) and substituting "Management"; and

(b) striking out "Retirement" in the first and second lines of clause (b) and substituting "Management".

36 Chapter 365 is further amended by adding immediately after Section 62A the following Section:

37 Chapter 365 is further amended by striking out "government service organization" or "government service organizations" wherever they appear in Chapter 365 and substituting "governmental unit" or "governmental units", respectively.

38 The Schedule to Chapter 365 is repealed and the following Schedule substituted:

PART XV

PUBLIC SERVICE ACT

39 Chapter 376 of the Revised Statutes, 1989, the Public Service Act, is amended by adding immediately after Section 7 the following Section:

40 Clause 10(1)(a) of Chapter 376, as enacted by Chapter 4 of the Acts of 2001, is amended by striking out "designated pursuant to" in the second and third lines and substituting "as defined in".

41 Chapter 376 is further amended by adding immediately after Section 12 the following Section:

42 Section 68 of Chapter 376, as enacted by Chapter 4 of the Acts of 2001, is amended by

(a) striking out "and" immediately after clause (l); and

(b) adding immediately after clause (l) the following clause:

PART XVI

PUBLIC SERVICE SUPERANNUATION ACT

43 Subsection 9(1) of Chapter 377 of the Revised Statutes, 1989, the Public Service Superannuation Act, is amended by

(a) striking out "five" in the first line of clause (a) and substituting "six";

(b) striking out "seven" in the first line of clause (b) and substituting "eight"; and

(c) striking out "seven" in the first line of clause (c) and substituting "eight".

44 Chapter 377 is further amended by adding immediately after Section 37 the following heading and Sections:

PART XVII

REVENUE ACT

45 Subsection 34(1) of Chapter 17 of the Acts of 1995-96, the Revenue Act, as amended by Chapter 21 of the Acts of 1996, Chapter 3 of the Acts of 1997, Chapter 13 of the Acts of 1998, Chapter 5 of the Acts of 1999 (2nd Session), Chapter 3 of the Acts of 2001, Chapter 48 of the Acts of 2001, Chapter 5 of the Acts of 2002 and Chapter 4 of the Acts of 2003, is further amended by

(a) striking out "thirteen and two" in the first line of clause (a) and substituting "fifteen and fifty-two";

(b) striking out "eleven and seventy-four" in the first line of clause (b) and substituting "fourteen and zero";

(c) striking out "thirteen and two" in the first line of clause (c) and substituting "fifteen and fifty-two"; and

(d) striking out "four and twenty-six" in the first line of clause (e) and substituting "six and fifty-two".

PART XVIII

SUMMARY PROCEEDINGS ACT

46 Section 4A of Chapter 450 of the Revised Statutes, 1989, the Summary Proceedings Act, as enacted by Chapter 4 of the Acts of 2000 and amended by Chapter 5 of the Acts of 2001, is further amended by

(a) adding "and seven" immediately after "hundred" in the second line; and

(b) striking out "thirty dollars" in the last line and substituting "thirty-one dollars and ninety-five cents".

PART XIX

TEACHERS' PENSION ACT

47 Chapter 26 of the Acts of 1998, the Teachers' Pension Act, is amended by adding immediately after Section 20 the following Sections:

PART XX

TRUST AND LOAN COMPANIES ACT

48 Chapter 7 of the Acts of 1991, the Trust and Loan Companies Act, is amended by adding immediately after Section 16 the following Section:

PART XXI

GENERAL

49 A reference in any Act of the Legislature or in any rule, order, regulation, by-law, ordinance or proceeding or in any document whatsoever to a government service organization or government service organizations shall, as regards any subsequent transaction, matter or thing, be held and construed to be a reference to a governmental unit or governmental units, respectively.

PART XXII

EFFECTIVE DATES

50 (1) Sections 44 and 47 have effect on and after January 1, 2000.

(2) Section 26 has effect on and after January 1, 2004.

(3) Section 45 has effect on and after March 17, 2004.

(4) Sections 2 to 5, 28, 29, 30, 31, 46 and 48 have effect on and after April 1, 2004.

(5) Section 43 has effect on and after June 1, 2004.

(6) Sections 16 to 18 have effect on and after August 1, 2004.

(7) Section 35 has effect on and after April 1, 2005.

(8) Sections 6 to 15, 19, 40 and 41 come into force on such day as the Governor in Council orders and declares by proclamation.


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