First

Session, 48th General Assembly

Elizabeth II, 2017

BILL 66

AN ACT TO AMEND THE

FINANCIAL ADMINISTRATION ACT NO. 3

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 Financial Administration Act to allow the Lieutenant-Governor in Council, on the

written recommendation of the Treasury Board, to authorize an agreement to be

entered into for funds to be granted in a subsequent fiscal year where certain

requirements prescribed in the regulations are satisfied.

A BILL

AN ACT TO AMEND THE FINANCIAL

ADMINISTRATION ACT NO. 3

Analysis

S.9 Amdt.

Regulations

S.26 Amdt.

Commitments

Commencement

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

RSNL1990 cF-8 as amended

Section 9 of the Financial Administration Act is amended by deleting the word "and"

at the end of paragraph (

c) and by adding immediately after paragraph (

c) the

following:

(c.1) prescribing the requirements for funds to be

granted in a subsequent fiscal year; and

(1) Section 26 of the Act is amended by

adding immediately after subsection (4) the following:

(4.1) Notwithstanding the other provisions of this

Act, the Lieutenant-Governor in Council may, on the written recommendation of

the board, authorize an agreement to be entered into for funds to be granted in

a subsequent fiscal year where the requirements prescribed in the regulations

are satisfied.

(2) Subsection 26(5) of the Act is repealed and

the following substituted:

(5) Where the Lieutenant-Governor in Council

authorizes an agreement under subsection (4) or (4.1), all relevant documents,

including the amount involved and the reasons for the agreement, shall be

(

a) tabled in the House of Assembly within 3 days

of the authorization or where the House of Assembly is not then sitting, on one

of the first 15 days that the House of Assembly is next sitting; and

(

b) included in the estimates of expenditure

submitted to the House of Assembly for the fiscal year in which the payment is

due.

Commencement

3. This Act comes into force on a day to be

proclaimed by the Lieutenant-Governor in Council.

Queen's Printer