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Third
Session, 48th General Assembly 67 Elizabeth II, 2018 |
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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 |
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Committee.......................................................................................................................................... |
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Third |
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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. This Bill would further extend that expiry
date to March 31, 2019. 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 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 and chapter 39 of 2016, by striking out the expiry date of "Mar. 31/18" and substituting the expiry date of "Mar. 31/19". ©Queen's Printer |