First

Session, 48th General Assembly

Elizabeth II, 2016

BILL 26

AN ACT TO AMEND THE LOAN AND

GUARANTEE ACT, 1957

Received and Read the First Time .................................................................................................

Second Reading .................................................................................................................................

Committee ..........................................................................................................................................

Third Reading .....................................................................................................................................

Royal Assent ......................................................................................................................................

HONOURABLE

CATHY BENNETT

Minister of Finance and President of Treasury Board

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTES

This Bill would amend the

Schedule to

The Loan and Guarantee Act, 1957.

Order in Council 2005-066 authorized

a loan guarantee in order to secure additional operating credit for the

Stephenville Airport Corporation during the period of its restructuring. The guarantee was increased by an additional

$250,000 in 2010. This Bill would further

increase the guarantee by an additional $300,000 with an expiry date of June

30, 2016.

A BILL

AN ACT TO

AMEND THE LOAN AND

GUARANTEE ACT, 1957

Analysis

Schedule Amdt.

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

1957 No.70

as amended

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, as follows:

(

a) by striking out the amount "600,000"

and substituting the amount "900,000" and by adding an expiry date of

"Mar. 31/16"; and

(

b) by striking out the expiry date of "Mar.

31/16" and substituting the expiry date "Jun. 30/16".

Queens Printer