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RSNL1990 CHAPTER C-41

CROWN GUARANTEE AND LOAN ACT

Amended:

CHAPTER C-41

AN ACT RESPECTING THE GUARANTEEING BY THE CROWN OF CERTAIN BONDS, DEBENTURES AND LOANS AND RESPECTING THE MAKING OF CERTAIN LOANS BY THE CROWN

Analysis



Short title

        1. This Act may be cited as the Crown Guarantee and Loan Act.

1973 No13 s1

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Substitution of minister

        2. (1) Where in an Act, including an Act referred to in the Schedule, a minister of the Crown other than the Minister of Finance is authorized, with or without the approval of the Lieutenant-Governor in Council or other approval, on behalf of the Crown on behalf of the government of the province, or in a similar representative capacity, to

             (a)  guarantee the repayment of a bond or debenture issue or loan;

             (b)  make a loan, other than a bounty repayable to any extent; or

             (c)  act in an incidental manner, except in the capacity of Attorney General, in respect of the guarantee or making,

the authority is to be exercised by the Minister of Finance, and a reference in another Act to a minister other than the Minister of Finance with respect to the matters referred to in paragraphs (a), (b) or (c), shall be considered to be a reference to the Minister of Finance.

             (2)  Where in an Act, including an Act referred to in the Schedule, a board, commission or other body appointed by the Lieutenant-Governor in Council is authorized, with or without approval, to guarantee, on behalf of the Crown on behalf of the government of the province, or in a similar representative capacity, the repayment of a bond or debenture issue or loan, the authority is to be exercised by the Minister of Finance.

1973 No13 s2; 1979 c3 s1

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Section 2 not restricted

        3. The generality of section 2 shall not be restricted by a particularization of Acts appearing in the Schedule.

1973 No13 s3

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Schedule

                     (a)  the Loan and Guarantee Act , 1957;

                     (b)  the Local Authority Guarantee Act , 1957;

                     (c)  the Senior Citizens Housing Act ;

                     (d)  the Municipal Financing Corporation Act ;

                     (e)  the Housing Corporation Act ;

                      (f)  the Melville Pulp & Paper Limited (Authorization of Agreement) Act , 1966-67;

                     (g)  the Industrial Development Corporation Act ; and

                     (h)  the Stephenville Linerboard Mill (Agreement) Act , 1972.

1973 No13 Sch