Second

Session, 48th General Assembly

Elizabeth II, 2017

BILL 12

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 2017-157 authorized

a guarantee to secure certain obligations of Corner Brook Pulp and Paper

Limited under a letter of credit up to $88 million with no expiry date.

The guarantee agreement has not yet

been executed so the date of issue cannot be provided at this time.

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 adding the following:

Company

Amount

Date of

Issue

Expiry

Date

Corner Brook Pulp

and Paper Limited

88,000,000

N/A

Queens Printer