26

 

 

First Session, 48th General Assembly

65 Elizabeth II, 2016

BILL 26

AN ACT TO AMEND THE LOAN AND
GUARANTEE ACT, 1957

Received and Read the First Time.................................................................................................

Second Reading.................................................................................................................................

Committee..........................................................................................................................................

Third Reading.....................................................................................................................................

Royal Assent......................................................................................................................................

HONOURABLE CATHY BENNETT

Minister of Finance and President of Treasury Board

Ordered to be printed by the Honourable House of Assembly

 

EXPLANATORY NOTES

This Bill would amend the Schedule to The Loan and Guarantee Act, 1957.

Order in Council 2005-066 authorized a loan guarantee in order to secure additional operating credit for the Stephenville Airport Corporation during the period of its restructuring.  The guarantee was increased by an additional $250,000 in 2010.  This Bill would further increase the guarantee by an additional $300,000 with an expiry date of June 30, 2016.

A BILL

AN ACT TO AMEND THE LOAN AND
GUARANTEE ACT, 1957

Analysis


        1.   Schedule Amdt.


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

1957 No.70
as amended

        1. The Schedule to The Loan and Guarantee Act, 1957 is amended by amending Item 2 - Stephenville Airport Corporation, as enacted by chapter 6 of 2005 and amended by chapter 20 of 2010, as follows:

             (a)  by striking out the amount "600,000" and substituting the amount "900,000" and by adding an expiry date of "Mar. 31/16"; and

             (b)  by striking out the expiry date of "Mar. 31/16" and substituting the expiry date "Jun. 30/16".