Manitoba Hansard — 39 5 b053e.php

39-5 b053e.php

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Home → Legislative Business → Bills → 39-5

Status of bills in this Session.

Fifth Session, Thirty-Ninth Legislature

This version is based on the printed bill that was distributed in the Legislature after First Reading.

It is not the official version. If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications or view the online bilingual version (PDF) .

Bill 53

THE LOAN ACT, 2011

Table of Contents

(Assented to )

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

Definitions

The following

definitions apply in this Act.

"agency" means a corporation or agency mentioned in the

Schedule or to which money may be advanced under a program mentioned in the Schedule. (« organisme »)

"government's borrowing authority" means the unused portion of the authority provided to the government under

section 2, or under a similar provision of a previous Loan Act, to borrow money for purposes other than to refinance debt. (« pouvoir d'emprunt du gouvernement »)

Increase in government's borrowing authority

The authority of the government to borrow for purposes other than to refinance debt is increased by $3,300,000,000.

Borrowing authority of agency

3(1)

Subject to subsection (3), an agency may borrow or raise for its purposes amounts not exceeding, in total, the amounts set out for the agency in the Schedule. This is in addition to any amounts that an agency may borrow

(

a) to refinance debt; or

(

b) under a statutory authority to borrow money for temporary purposes or working capital.

Manner of raising money

3(2)

Amounts borrowed or raised under subsection (1) may be borrowed or raised

(

a) by means of a loan from the government; or

(

b) subject to subsection (3), by any other means authorized by the agency's governing legislation and approved by the Lieutenant Governor in Council.

Abatement of government's borrowing authority

3(3)

An amount borrowed or raised under clause (2)(

b) reduces, and must not exceed, the government's borrowing authority.

Agency guarantee abates borrowing authority

3(4)

The amount of a guarantee provided by an agency reduces, and must not exceed the lesser of,

(

a) the government's borrowing authority; and

(

b) the agency's unused borrowing authority under subsection (1).

L.G. in C. may authorize advances

The Lieutenant Governor in Council may authorize amounts to be advanced to agencies or for programs as set out in the Schedule.

Lapse of previous borrowing authority

Any unused authority under

section 3 or 4 of The Loan Act, 2010 to borrow or advance an amount set out in a

Schedule to that Act lapses except to the extent it is included in the

Schedule to this Act.

Additional authority for loans and guarantees

6(1)

Until changed by another Act of the Legislature, the total of the loans and guarantees that the government provides under

section 63 of The Financial Administration Act in a fiscal year must not exceed $200,000,000.

Authority to borrow

6(2)

An agency or other person that needs legislative authority to borrow an amount to be advanced to it by the government under

section 63 of The Financial Administration Act is deemed to have that authority.

Coming into force

This Act is deemed to have come into force on April 1, 2011.

SCHEDULE

CAPITAL AUTHORITY FOR

NON-BUDGETARY PROGRAMS FOR 2011-2012

$(000s)

Existing Authority

New or Additional Authority

TOTAL

Crown Corporations Council

Communities Economic Development Fund

10,850

6,800

17,650

The Manitoba Hydro-Electric Board

333,465

595,000

928,465

The Manitoba Lotteries Corporation*

108,061

70,700

178,761

*Existing authority — $14,561,000 is for First Nations Capital Program

Additional authority — $6,700,000 is for First Nations Capital Program

Aboriginal and Northern Affairs

Northern Affairs Communities

5,850

8,784

14,634

Advanced Education and Literacy

Manitoba Student Aid Program

20,044

23,356

43,400

Post Secondary Institutions

151,171

121,017

272,188

International Education

Agriculture, Food and Rural Initiatives

Manitoba Agricultural Services Corporation

100,910

95,539

196,449

Manitoba Farm Mediation Board

Community Works Loan Program*

*Existing authority for these programs is for Rural Economic Development Initiatives

Conservation

Special Operating Agencies Financing Authority:

Pineland Forest Nursery

Culture, Heritage and Tourism

Travel Manitoba

1,500

1,500

Venture Manitoba Tours Ltd.

Entrepreneurship, Training and Trade

Manitoba Capital Fund

Manitoba Film Guarantee Program

1,171

Business Support*

146,252

146,252

*Existing authority — $33,267,000 is for the Manitoba Industrial Opportunities Program

Manitoba Opportunities Fund Ltd.

97,946

111,656

209,602

Manitoba Science and Technology Fund

Family Services and Consumer Affairs

Special Operating Agencies Financing Authority:

The Companies Office

1,970

1,970

The Property Registry

4,100

4,100

The Vital Statistics Agency

Finance

Leaf Rapids Town Properties Ltd.

1,500

1,500

Health

Diagnostic Services of Manitoba, Inc.

5,750

10,380

16,130

Health Capital Program

368,042

212,161

580,203

Housing and Community Development

Manitoba Housing and Renewal Corporation

211,876

140,000

351,876

Cooperative Loans and Loan Guarantee Board

3,500

3,500

Infrastructure and Transportation

Manitoba Water Services Board

56,804

12,335

69,139

Special Operating Agencies Financing Authority:

Vehicle and Equipment Management Agency

12,100

11,000

23,100

Innovation, Energy and Mines

Special Operating Agencies Financing Authority:

Industrial Technology Centre

1,647,189

1,419,028

3,066,217

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Document details

Collection	Manitoba — Debates (Hansard)
Citation	39-5 b053e.php
Type	bill
Volume / chapter	39 5 b053e.php
Language	en
Format	html
Source	PROVINCIAL
Identifier	db70d013e8e8a177733e7059e85371a61ab06ab0

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