Bill 7 (Legislature 20, Session 1)

L20 S1 3628

Alberta — Bills

1983 BILL 7 First Session, 20th Legislature, 32 EUzabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL 7 DEPARTMENTTDFTCONOMIC DCVCLOPMENT AMPiOMENT ACT,^983' I I • i •_ I I F ^W^ THE MINISTEJl OBrEGQNlC^MJP Kig^pft,OPI|IENT First Reading Second Reading Committee of the Whole Third Reading Royal Assent

Bill 7 BILL 7 1983 DEPARTMENT OF ECONOMIC DEVELOPMENT AMENDMENT ACT, 1983 (Assented to . 1983) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Department of Economic Development Act is amended by this Act. 2

Section 8 is amended (

a) by repealing subsection (1) and substituting the following: 8(1) The Lieutenant Governor in Council may make regula tions providing for guarantees and indemnities by the Gov ernment in respect of the repayment of loans or the perform ance of other obUgations made or incurred, or that will be made or incurred, for the purpose of undertaking or devel oping projects beneficial to economic development within Alberta. (

b) in subsection (2) (

i) in clause (

a) by striking out "of a loan" and substituting "or indemnity"; (ii) in clauses (b), (c), (d). (e). (

f) and (

g) by adding "or in demnities" after "guarantees"; (Hi) in clause (

h) by striking out "directly"; (

c) in subsection (3) by striking out "of a loan" and substituting "or indemnity given'!

Explanatory Notes 1 This Bill will amend

chapter D-16 of the Revised Statutes of Alberta 1980. 2

Section 8 presently reads: 8(1) The Lieutenant Governor in Council may make regulations provid ing for the guarantee by the Government of the repayment of principal and interest or principal or interest in respect of loans made for the purpose of undertaking or developing projects directly beneficial to economic de velopment within Alberta.

(2) Regulations under subsection (1) may (

a) prescribe the purposes for which a Government guarantee of a loan may be given; (

b) prescribe the persons or organizations or classes of persons or organizations eligible to apply for the guarantees; (

c) prescribe the procedure for the submission of applications for the guarantees; (

d) prescribe the form and content of applications for the guarantees; (

e) prescribe the conditions required to be met by applicants to render them eligible for the guarantees; (

f) prescribe the terms and conditions on which the guarantees are to be given; (

g) prescribe the security to be given to the Government by applicants in consideration of the guarantees; (

h) define, for the purposes of this section, undertakings and develop ments constituting projects directly beneficial to economic develop ment.

Section 9 is repealed and the following is substituted: 9(1) The Minister may enter into agreements on or in connec tion with any poUcies, programs, services or other matters under his administration.

(2) Without Umiting subsection (1), agreements may be made under that subsection with the Government of Canada or of a province or any agency of the Government of Canada or of a province. In accordance with

section 4(1) of the

Interpretation Act, this Bill comes into force on the date it receives Royal Assent.

(3) A guarantee of a loan pursuant to the regulations under this

section (

a) shall be in the form approved by the Provincial Treasurer, and (

b) may be executed on behalf of the Government by the Provincial Treasurer, the Deputy Provincial Treasurer or by any other person designated by the Provincial Treasurer 3

Section 9 presently reads: 9 The Minister may on behalf of the Government of Alberta enter into agreements on any matter under his administration with the Government of Canada, the government of a province of Canada, an agency of any of those governments, a municipal authority in Alberta or any other person. Title: 1983 (20th, 1st) Bill 7, Department of Economic Development Amendment Act, 1983

Document details

Collection	Alberta — Bills
Citation	L20 S1 3628
Type	bill
Volume / chapter	L20 S1 3628
Language	en
Format	json
Source	PROVINCIAL
Identifier	4e6a7fe7f9ca69b6488abe05e0243808b3f007f1

Source file is stored in the law ingest library (json).