In brief, the proposed provisions here would provide statutory authority for the Minister of Finance to make requisitions from the consolidated revenue fund in order to make the payments that are prescribed in the agreement between the two governments. The agreement that is referenced here is an agreement from April of 2019, which the two governments reached in relation to the dividends that Canada receives from its ownership in the Hibernia offshore oil project.
On June 1st, 2021. See this statement in context.