Draft Fuel Charge Regulations

Interpretation

Meaning of Act
1  In these Regulations, Act means the Greenhouse Gas Pollution Pricing Act.

Part 1

Interest Rate

Definitions
2  The following definitions apply in this Part.
basic rate, in respect of a particular quarter, means the rate that is the simple arithmetic mean, expressed as a percentage per year and rounded to the next higher whole percentage if the mean is not a whole percentage, of all amounts each of which is the average equivalent yield, expressed as a percentage per year, of Government of Canada Treasury Bills that mature approximately three months after their date of issue and that are sold at auctions of Government of Canada Treasury Bills during the first month of the quarter preceding the particular quarter. (taux de base)
quarter means any period of three consecutive months beginning on January 1, April 1, July 1 or October 1. (trimestre)
Prescribed rates of interest
3  For the purposes of Part 1 of the Act, the prescribed rate of interest in effect during a particular quarter is
(a)  in the case of interest to be paid to the Receiver General, the sum of the basic rate in respect of the particular quarter and 4%;
(b)  in the case of interest to be paid or applied on an amount payable by the Minister to a person (other than a corporation), the sum of the basic rate in respect of the particular quarter and 2%;
(c)  in the case of interest to be paid or applied on an amount payable by the Minister to a corporation, the basic rate in respect of the particular quarter; and
(d)  in any other case, the sum of the basic rate in respect of the particular quarter and 4%.

Part 2

Registered Specified Rail Carriers

Prescribed persons — rail carriers
4  A person listed in the Schedule is prescribed for the purposes of paragraph 62(1)(b) of Part 1 of the Act.

Part 3

Application

5  These Regulations are deemed to have come into force on the day on which the Act receives royal assent.
SCHEDULE
(Section 4)
Canadian National Railway Company / Compagnie des chemins de fer nationaux du Canada
Canadian Pacific Railway Company / Compagnie de chemin de fer Canadien Pacifique
VIA Rail Canada Inc.