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First
Session, 48th General Assembly 65
Elizabeth II, 2016 |
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AN
ACT TO AMEND THE LOAN |
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Received and Read the First Time................................................................................................. |
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Second |
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Committee.......................................................................................................................................... |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE
CATHY BENNETT Minister of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
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EXPLANATORY NOTES This Bill would amend the Schedule to The Loan and Guarantee Act, 1957. Order in Council
2005-066 authorized a loan guarantee of $350,000 in order to secure additional
operating credit for the Stephenville Airport Corporation during the period of
its restructuring. In 2010, the guarantee was increased by $250,000, with an
additional increase of $300,000 being authorized in 2016. In addition, in 2016,
an expiry date of March 31, 2016 was confirmed and that date was extended to
June 30, 2016. This Bill would confirm an additional extension of the expiry
date to October 31, 2016 and further extend that expiry date to March 31, 2018. |
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A AN ACT TO
AMEND THE LOAN Analysis 1. Schedule Amdt. Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: 1957 No.70 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 and chapter 26 of 2016, as follows: (a) by striking out the expiry date of "Jun. 30/16" and substituting the expiry date "Oct. 31/16"; and (b) by striking out the expiry date of "Oct. 31/16" and substituting the expiry date "Mar. 31/18". ©Queens Printer |