Federal-Provincial Fiscal Arrangements Regulations, 2007

16 (1) If the Minister determines that a fiscal equalization payment is to be made under the Act to a province for a fiscal year, other than a payment under section 3.1 or subsection 3.7(1) of the Act, the Minister shall pay that amount to the province in 24 equal payments, with a payment occurring on each of the first and third working days after the 15th calendar day of each month of the fiscal year.

(2) If, following an election under subsection 3.2(2), 3.7(3) or 3.9(6) of the Act, an amount of the fiscal equalization payment remains payable to the province, the Minister shall adjust the remaining payments to be made under subsection (1) such that the adjustment is apportioned equally to those remaining payments.