First

Session, 48th General Assembly

Elizabeth II, 2016

BILL 48

AN ACT TO AMEND THE

HYDRO CORPORATION ACT, 2007

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

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

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

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

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

HONOURABLE SIOBHAN COADY

Minister of Natural Resources

Ordered

to be printed by the Honourable House of Assembly

EXPLANATORY NOTE

This Bill would amend the Hydro Corporation Act, 2007 to increase

the cap on the total outstanding debt of the corporation, as well as the total

of all loans to the corporation which may be guaranteed by or on behalf of the

Crown.

A BILL

AN ACT TO AMEND THE HYDRO

CORPORATION ACT, 2007

Analysis

1. S.30

R&S

Total amount of loan

Be it enacted by the Lieutenant-Governor and

House of Assembly in Legislative Session convened, as follows:

SNL2007 cH-17

as amended

Section 30 of the Hydro Corporation Act, 2007 is repealed and the following

substituted:

Total amount of

loan

(1) The

total amount of the corporation's outstanding debt at any time shall not exceed

$2,100,000,000 in Canadian currency or its equivalent in the currency of

another country.

(2) The total debt referred to in subsection

(1) that is guaranteed by or on behalf of the Crown shall not exceed $2,100,000,000

in Canadian currency or its equivalent in the currency of another country.

Queen's Printer