Statutes of Newfoundland and Labrador 2005 Chapter 35

AN ACT TO AMEND THE FINANCIAL ADMINISTRATION ACT

(Assented to December 13, 2005)

Analysis

Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 cF-8
as amended

1. Subsection 42(1) of the Financial Administration Act is repealed and the following substituted:

Repayment of loans by new issues

42. (1) The Lieutenant-Governor in Council may raise, by way of loan in the manner prescribed in subsection 38(1), the sum of money required to repay, renew or refund, in whole or in part, securities issued under the authority of this or another Act, including the sum of money required to make payments into the Newfoundland and Labrador Government Sinking Fund or another sinking fund established for the retirement or repayment, in whole or in part, of securities issued under this Act or another Act, whether or not the raising of the loan may have the effect of increasing the amount of the public debt or of extending the term of years prescribed in the Act authorizing the issue of the securities proposed to be repaid, renewed or refunded.