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E-12.00001 - Balanced Budget Act

Section 10
Disposition versions

Full text
10. The Government may incur overruns for more than one fiscal year if it anticipates, in a Budget Speech and prior to the implementation of an offsetting financial plan, an overrun of $1,000,000,000 or more in the fiscal year covered by the budget, or if an overrun of $1,000,000,000 or more is recorded for a fiscal year, as a result of
(1)  a disaster having a major impact on revenue or expenditure;
(2)  a significant deterioration of economic conditions; or
(3)  a change in federal programs of transfer payments to the provinces that would substantially reduce transfer payments to the Government.
1996, c. 55, s. 10.
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