REVISION OF THE ESTIMATES OF THE ADJUSTED AMOUNTS PAID Sample Clauses

REVISION OF THE ESTIMATES OF THE ADJUSTED AMOUNTS PAID. No later than December 15th of each year, Québec will revise its estimates of the adjusted amounts paid for, at most, the previous five financial years from that year, based on the most recent data available pertaining to: • The population in the Kativik Region; • The population of Québec; • The program expenditures of the government of Québec. No later than December 15th of each year, Québec will have to send the result of this revision (these revisions) to the KRG representative. This revision or these revisions may also be the subject of discussions between the Parties during the three weeks following the receipt by the KRG of the revision(s) made by Québec. In the case where the replacement of the estimated data by the most recent data were to lead to a readjustment of the indexing factor for one or more financial years in particular and, in so doing, were to result in the revision of the annual payment payable for this or these financial years, the payment of the financial year that follows the year of the revision will be adjusted by an equivalent amount to fully reflect the retroactive payment or the retroactive withholding required for each of the financial years in question. This retroactive payment or this retroactive withholding will extend over the three installments of the months of April, July, and December of the financial year that follows the year of the revision. The annual payment for a given financial year will be final and will be subject to no further revisions after five years. The data dealing with the population of Québec and of the Kativik Region as well as those dealing with the program expenditures of the government of Québec, used for the revision(s) of the adjusted amount, will have to be comparable from one year to the next. This will ensure that a change of a methodological, accounting or other nature in the accounting of these data does not create a break, when data are compared from one year to the next and for these reasons, does not influence the adjusted amount.
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