Bill C-480: An Act to amend the Employment Insurance Act (establishment of Unemployment Insurance Trust Fund) and another Act in consequence

C-480 Second Session, Thirty-ninth Parliament, 56 Elizabeth II, 2007 HOUSE OF COMMONS OF CANADA BILL C-480 An Act to amend the Employment Insurance Act (establishment of Unemployment Insurance Trust Fund) and another Act in consequence first reading, November 19, 2007 Mr. Godin 392026 SUMMARY This enactment changes the title of the Employment Insurance Act back to its original version, the Unemployment Insurance Act. The enactment also creates a separate Unemployment Insurance Trust Fund under the authority of the Commission. This replaces the Employment Insurance Account that is a part of the Consolidated Revenue Fund. Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca .vis1 {position: absolute;display:block;} .vis2 {position: static;} 2nd Session, 39th Parliament, 56 Elizabeth II, 2007 house of commons of canada BILL C-480 An Act to amend the Employment Insurance Act (establishment of Unemployment Insurance Trust Fund) and another Act in consequence Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: 1996, c. 23 EMPLOYMENT INSURANCE ACT 1. The long title of the Employment Insurance Act is replaced by the following: An Act respecting unemployment insurance in Canada 2. (1) Section 1 of the Act is replaced by the following: Short title 1. This Act may be cited as the Unemployment Insurance Act. Replacement of “Employment Insurance Act” with “Unemployment Insurance Act” (2) A reference in any other Act of Parliament, regulation, agreement or other instrument to the Employment Insurance Act is replaced, with such modifications as the circumstances require, by a reference to the Unemployment Insurance Act. Replacement of “employment insurance” with “unemployment insurance” (3) In any Act of Parliament, regulation, agreement or other instrument, the expression “employment insurance” is replaced, with any modifications that the circumstances require, by the expression “unemployment insurance”. 3. The portion of section 72 of the Act before paragraph (a) is replaced by the following: Payment into Unemployment Insurance Trust Fund 72. There shall be paid into the Unemployment Insurance Trust Fund 4. (1) The portion of section 73 of the Act before paragraph (b) is replaced by the following: Credits to Unemployment Insurance Trust Fund 73. There shall be credited to the Unemployment Insurance Trust Fund (a) all amounts received as or on account of premiums payable under this Act; (2) Paragraph 73(c) of the Act is replaced by the following: (c) all benefit repayments receivable under Part VII. 5. Sections 74 to 76 of the Act are replaced by the following: Government premiums 74. There shall be credited to the Unemployment Insurance Trust Fund and charged to the Consolidated Revenue Fund an amount equal to the premiums required to be paid by Her Majesty in right of Canada as employer’s premiums for persons employed in insurable employment by Her Majesty in right of Canada. Other credits to Unemployment Insurance Trust Fund 75. There shall be credited to the Unemployment Insurance Trust Fund all amounts paid into the Consolidated Revenue Fund that are (a) received as or on account of penalties imposed under section 38, 39 or 65.1 and repayments of overpaid benefits, except penalties on benefit repayment; (b) collected by the Commission for services rendered to other government departments or agencies or to the public; (c) received on account of principal or interest on loans made by the Commission under Part II; (d) received as repayments of overpayments by the Commission under section 61 for employment benefits and support measures authorized by Part II; or (e) received as repayments of overpayments by the Commission under agreements entered into under section 63. 6. The portion of subsection 77(1) of the Act before paragraph (a) is replaced by the following: Payments from the Unemployment Insurance Trust Fund 77. (1) There shall be paid out of the Unemployment Insurance Trust Fund 7. The Act is amended by replacing the expression “Employment Insurance Account” with the expression “Unemployment Insurance Trust Fund” wherever it occurs. 8. In subsection 80(1) of the Act, the word “Account” is replaced by the word “Fund”. CONSEQUENTIAL AMENDMENT 2005, c. 34 Department of Human Resources and Skills Development Act 9. Section 29 of the Department of Human Resources and Skills Development Act is replaced by the following: Audit by Auditor General 29. The Auditor General of Canada shall annually audit the accounts and financial transactions of the Commission for the previous fiscal year. The Auditor General shall also audit the Unemployment Insurance Trust Fund established by section 71 of the Unemployment Insurance Act, and a report of that audit shall be made to the Minister. Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada