Railway Company Pay Out of Excess Revenue for the Movement of Grain Regulations

Railway Company Pay Out of Excess Revenue for the Movement of Grain Regulations Her Excellency the Governor General in Council, on the recommendation of the Minister of Transport, pursuant to paragraph 152(c)a of the Canada Transportation Actb, hereby makes the annexed Railway Company Pay Out of Excess Revenue for the Movement of Grain Regulations. S.C. 2000, c. 16, s. 10 S.C. 1996, c. 10 The following definitions apply in these Regulations. Act means the Canada Transportation Act. (Loi) Agency means the Canadian Transportation Agency, continued by subsection 7(1) of the Act. (Office) average bank rate [Repealed, SOR/2004-254] Western Grains Research Foundation means the Western Grains Research Foundation designated in Order in Council P.C. 1999-1650 of September 29, 1999, made pursuant to subsection 33.1(3) of the Canadian Wheat Board Act, for the purpose of funding research activities. (Western Grains Research Foundation) The penalty that a prescribed railway company shall pay out pursuant to subsection 150(2) of the Act, if the company’s revenues for the movement of grain in a crop year exceed the company’s maximum revenue entitlement for that year, as determined under subsection 151(1) of the Act, is five per cent of the excess amount, if that excess amount is one per cent or less of the company’s maximum revenue entitlement; or 15 per cent of the excess amount, if that excess amount is more than one per cent of the company’s maximum revenue entitlement. If the Agency concludes that a prescribed railway company’s revenues for the movement of grain in a crop year exceed the company’s maximum revenue entitlement for that year, as determined under subsection 151(1) of the Act, the Agency must make a decision or order requiring the company to pay out the excess amount and the applicable penalty, as determined under section 2, in accordance with subsection 150(2) of the Act. A decision or order in relation to a crop year must be sent to a prescribed railway company no later than 10 days after the Agency determines the company’s revenues for the movement of grain and maximum revenue entitlement for that year. The excess amount and the penalty that a prescribed railway company shall pay out pursuant to subsection 150(2) of the Act must be paid out to the Western Grains Research Foundation in the form of a certified cheque, money order or bank draft. At the time an excess amount and the applicable penalty are paid out, the prescribed railway company must notify the Agency, in writing, of the amount paid out and the date on which it was paid out. An excess amount and the applicable penalty must be paid out no later than 30 days after the day on which the prescribed railway company receives the decision or order referred to in section 3. [Repealed, SOR/2004-254, s. 15] These Regulations come into force on the day on which they are registered.