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Statutes of Newfoundland 1994


CHAPTER 33

CHAPTER 33

AN ACT TO AMEND THE FINANCIAL
ADMINISTRATION ACT

(Assented to December 16, 1994)

Analysis

1. S.38 Amdt.
Method

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


RSN 1990 cF-8 as amended

1. Section 38 of the Financial Administration Act is amended by adding the following immediately after subsection (1):

(1.1) The Lieutenant-Governor in Council may issue a debenture from time to time to the Newfoundland Pooled Pension Fund in an amount that shall not exceed an amount sufficient to cover the deficiency guarantee under the Pensions Funding Act, at a rate of interest and upon those other terms and conditions that the Lieutenant-Governor in Council may approve, and the principal amount of and interest on all debentures so issued is a charge on and shall be paid out of the Consolidated Revenue Fund.

(2) Subsection 38(2) of the Act is amended by deleting the comma immediately after the words "an issue of securities" and by adding the words "or a debenture".

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