Statutes of Newfoundland and Labrador 2016 Chapter 36

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CHAPTER 36

AN ACT TO AMEND THE HYDRO
CORPORATION ACT, 2007

(Assented to December 12, 2016)

Analysis

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

SNL2007 cH-17
as amended

1. Section 30 of the Hydro Corporation Act, 2007 is repealed and the following substituted:

Total amount of loan

30. (1) The total amount of the corporation's outstanding debt at any time shall not exceed $2,100,000,000 in Canadian currency or its equivalent in the currency of another country.

(2) The total debt referred to in subsection (1) that is guaranteed by or on behalf of the Crown shall not exceed $2,100,000,000 in Canadian currency or its equivalent in the currency of another country.