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First
Session, 49th General Assembly 69 Elizabeth II, 2020 |
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AN ACT TO AMEND THE LOAN AND GUARANTEE ACT, 1957 |
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Received and Read the First Time.................................................................................................. |
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Second Reading................................................................................................................................. |
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Committee........................................................................................................................................... |
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Third Reading..................................................................................................................................... |
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Royal Assent...................................................................................................................................... |
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HONOURABLE TOM OSBORNE 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 and then further extended to October 31, 2016 and then to March 31, 2018. In 2018, the expiry date was extended to March 31, 2019 and in 2019, the expiry date was extended to March 31, 2020. This Bill would further extend that expiry date to March 31, 2021. A BILL AN ACT TO AMEND THE LOAN AND GUARANTEE ACT, 1957 Analysis 1. Sch. 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, chapter 26 of 2016, chapter 39 of 2016, chapter 13 of 2018 and chapter 7 of 2019, by striking out the expiry date of "Mar. 31/20" and substituting the expiry date of "Mar. 31/21". ©Queen's Printer |