Bill 105 — The Government Emergency Guarantee Act the Provincial Treasurer (Legislature 16, Session 4)

L16 S4 4942

Alberta — Bills

1971 Bin 105 Fourth Session, 16th Legislature, 20 Elizabeth II THE LEGISLATIVE ASSEMBLY QF a I lilMlRilttI BILL 105 The Government Emergency Guarantee Act THE PROVINCIAL TREASURER First Reading ..... . . . . . . . . . . . . . . . . . . . . . . . . . . Second Reading ............................ . Third Reading ............................. . Printed by L. S. Wall, Queen's Printer, Edmonton

BILL 105 1971 THE GOVERNMENT EMERGENCY GUARANTEE ACT ( Assented to , 1971) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1.

(1) Subject to subsection (2), the Lieutenant Gov ernor lin Ooundl may by 'Order ialUthOidze the Provincial ~reasurer, on)J,ihralf of the Government to guarantee, as to princip~l o:r :i.rest 'Or both, repayment of a loan m,ade to any perslOn.

(2) The lJieutenant Governor in OourndH may make an order under this

section only upon the :report of the Pro vincial Treasurer (

a) stating tbralt the guarantee ils required by reason of a matter of urgent imporrbance 'Or by reason of extraordinary ,circumstances, (

b) de:srcribing the mratter of urgent importa'lllC'e Oil' t:he speclial circumstances referred to ,in (,1anse (Ia), and (

c) stating that the giving of the guarantee is in the puhlic interest. 2,.

(1) A guarantee under this Act (

a) shan he miadeonly where the loan is repayable wHJhin tW'O yeacrs lafter the date 'Of the order under se0ti1on 1; (

b) shall he in the form approved by the Provincial Tre1asurer; (

c) may be executed on behai}f IOf the Government by the Provincial Treasurer, the Deputy Provincial Treasurer or any person designated by the order.

(2) The signature on a guarantee 'Of a person referred to in subs1ection (1), dause (

c) is conclusive proof that the prov,isions of this Act and the 'Order under

section 1 have been complied witlh. 3. The Provincial Treasurer s'haJlll,ay a 'copy of an order under this Act bef'Ore 'the Legis}ative Assembly

Explanatory Notes I. This Bill will allow the Government to make guarantees in urgent situations where it considers that the public interest is involved. 2. Form, terms and execution of guarantee. 3. Tabling of order.

('

a) within three days ·aflter the order is mrade, if lit is then in session, or (

b) if not, within five days after the eom'meneement 'Of the filrst session commenoing 'after ,the order was made. 4. This A,crtcomes :into force on a date to be fixed by PpoCillam·ation. 2

2 Title: 1971 (16th, 4th) Bill 105, The Government Emergency Guarantee Act

Document details

Collection	Alberta — Bills
Citation	L16 S4 4942
Type	bill
Volume / chapter	L16 S4 4942
Language	en
Format	json
Source	PROVINCIAL
Identifier	c4cf3910cc60cf0e884a12e40c68699526bd5ffe

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