First

Session, 50th General Assembly

Elizabeth II, 2022

BILL 46

AN ACT TO AMEND THE

LOAN AND GUARANTEE ACT, 1957

Received

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

Second

Reading ............................................................................................

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

Third

Reading ...............................................................................................

Royal

Assent .................................................................................................

HONOURABLE SIOBHAN

COADY

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 of $350,000 in

order to secure additional operating credit for the Stephenville Airport

Corporation during the period of its restructuring. In 2010, the guarantee was

increased by $250,000, with an additional increase of $300,000 being authorized

in 2016. In addition, in 2016 an expiry date of March 31, 2016 was confirmed

and that date was extended to June 30, 2016 and then further extended to

October 31, 2016 and then to March 31, 2018. In 2018, the expiry date was

extended to March 31, 2019. In 2019, the expiry date was extended to March 31,

2020. In 2020, the expiry date was extended to March 31, 2021. In 2021, the expiry date was extended to

March 31, 2022. This Bill would further

extend that expiry date to March 31, 2023.

A BILL

AN ACT TO AMEND THE LOAN AND GUARANTEE ACT,

Analysis

Sch. 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,

chapter 26 of

2016,

chapter 39 of 2016,

chapter 13 of 2018,

chapter 7 of 2019,

chapter 5 of

2020 and

chapter 3 of 2021 by striking out the expiry date of "Mar.

31/22" and substituting the expiry date of "Mar. 31/23".

Queen's Printer