Payments to the Nova Scotia Offshore Revenue Account (Statutory)
| Name of transfer payment program | Payments to the Nova Scotia Offshore Revenue Account (Statutory) |
| Start date | 1993-94 |
| End date | Ongoing |
| Type of transfer payment | Contribution |
| Type of appropriation | Statutory authority |
| Fiscal year for terms and conditions | Not applicable |
| Link to department’s Program Inventory | Statutory Offshore Payments |
| Description | The Minister of Natural Resources is responsible under section 219 of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act to make payments to the province of Nova Scotia equivalent to the revenue amounts received by Canada in relation to offshore oil and gas activities in the Canada-Nova Scotia offshore. The federal Nova Scotia Offshore Revenue Account Regulations prescribe the time and manner for making the transfer payments. The funds are drawn from the Consolidated Revenue Fund. This transfer payment program does not have any repayable contributions. |
| Expected results | Payments to the province of Nova Scotia pursuant to provisions of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act. The program takes into consideration royalties, corporate income taxes and other revenues related to the Canada-Nova Scotia offshore. Planned spending is subject to change based on factors such as production levels, natural gas prices, currency exchange rates, and operators’ profitability |
| Fiscal year of last completed evaluation | Not applicable |
| Decision following the results of last evaluation | Not applicable |
| Fiscal year of planned completion of next evaluation | Not applicable |
| General targeted recipient groups | Other levels of government |
| Initiatives to engage applicants and recipients | Not applicable |
| Type of transfer payment | 2017-18 Forecast spending | 2018-2019 Planned spending | 2019-20 Planned spending | 2020-21 Planned spending |
|---|---|---|---|---|
| Total grants | 0 | 0 | 0 | 0 |
| Total contributions | $8,085,645 | $5,356,008 | $4,911,007 | $3,731,647 |
| Total other types of transfer payments | 0 | 0 | 0 | 0 |
| Total program | $8,085,645 | $5,356,008 | $4,911,007 | $3,731,647 |
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