Bill 31 (Legislature 23, Session 4)

L23 S4 1154

Alberta — Bills

1996 BILL 31 Fourth Session, 23rd Legislature, 45 Elizabeth II THE LEGISLA TIVE A SSEMBLY OF A LBERTA B ILL 31 B U SIN ESS FIN A N C IA L A SSISTA N C E LIM ITA TIO N STA TU TES A M EN D M EN T A C T, 1996 THE PREMIER First Reading Second Reading C ommittee of the Whole Third Reading Royal A ssent

Bill 31 BILL 31 1996 B U SIN ESS FIN A N C IA L A SSISTA N C E LIM ITA TIO N STA TU TES A M EN D M EN T A C T, 1996 (Assented to 1996) HER MA JESTY, by and with the advice and consent of the Legislative A ssembly of A lberta, enacts as follows: Financial A dm inistration A ct Amends RSA 1980 cF-9 1(1) The Financial Adm inistration Act is am ended by this section.

(2) Section 13(3) is am ended by striking out ", 74(2)(c)”.

(3) The following is added after

section 4 9: Restrictions on investment by Crown and Provincial agencies 49.1(1) For the purposes of this section, (a) “shares” means (

i) any equity or other share or interest in the capital, property, profits or earnings of a corporation, or (ii) with reference to an interest in the success of a corporation, any instrument commonly known as a share, stock, unit or participation certificate or any similar term, or any communication, including one by electronic means, evidencing such an interest, (

b) shares are purchased if and only if they are acquired for a consideration that consists of or includes the payment of money, 1

Explanatory N otes Financial A dm inistration A ct 1(1) A mends

chapter F-9 of the Revised Statutes of A lberta 1980.

(2) Section 13(3) presently reads:

(3) An authorization under subsection (1)(

b) or (

c) to exercise the powers of the Provincial Treasurer under sections 17, 74(2)(

c) and 77 shall only be m ade with the prior approval in writing of the Treasury Board.

(3) Restrictions on purchases of shares, making of loans of money and acquiring of existing loans by the C rown and Provincial agencies. 1 Explanatory Notes

(

c) a loan of money is made if and only if the borrower is unconditionally required at the time the loan is made to make future repayment of all or part of the money advanced and regardless of by what name the transaction is called, and (

d) section 74.2 applies with respect to a specific authorization under this section.

(2) Notwithstanding any other law, including

section 2, a member of the Executive C ouncil shall not, on behalf of the C rown, directly or indirectly purchase shares, make a loan of money, acquire an existing loan of money or, in a transaction involving the payment of any money, enter into a joint venture or partnership unless that transaction or transactions of a class into which that specific transaction falls are specifically authorized by or under (

a) an A ct, or (

b) a subsisting regulation that was in force immediately before the commencement of this section, made under this or any other A ct.

(3) A member of the Executive C ouncil shall not introduce into the Legislative A ssembly an appropriation Bill, or Estimates under such a Bill, that would involve the C rown’s entering into a transaction referred to in subsection (2) unless that transaction or transactions of a class into which that specific transaction falls are specifically authorized by or under an A ct or a regulation referred to in subsection (2)(b). (4) Subsection (2) does not affect any right, privilege, obligation or liability that by law (

a) had been acquired or incurred and was still in effect, or (

b) was accrued or accruing immediately before the commencement of this section. (5 ) A body that is created or that becomes a Provincial agency after the commencement of this

section shall not carry on the business of purchasing shares, making loans of money or acquiring existing loans of money unless specifically authorized to do so by or under an A ct. (4 )

Section 59.1 is am ended 2

(4) Section 59.1 presently reads: 2 Explanatory Notes

(

a) by striking out “under a supply vote” and substituting “pursuant to an A ct passed after the commencement of

section 1(4) of the Business Financial Assistance Lim itation Statutes Am endm ent Act, 1996"; (

b) by striking out “the supply vote” and substituting “that enabling A ct”.

(5) Section 73 is repealed. 3

59.1 If the C rown, under a supply vote, m akes a loan or acquires shores of capital stock in a corporation, the head of the departm ent who adm inisters the supply vote shall lay the loan agreem ent, the agreem ent under which the share is acquired and any m aterial am endm ent to either agreem ent before the Legislative Assem bly not later than 45 days after the end of the fiscal year in which the agreem ent or am endm ent, as the case m ay be, is m ade or, if the Legislative Assem bly is not then sitting, not m ore than 15 days after the beginning of the next ensuing sitting.

(5) Section 73 presently reads: 73(1) The Lieutenant G overnor in C ouncil m ay, on the recom m endation of the Provincial Treasurer, m ake regulations (

a) governing the inform ation to be included in and the docum entation that m ust accom pany an application for a guarantee or indem nity; (

b) prescribing the fees payable to the C rown or a Provincial corporation in respect of the giving of guarantees or indem nities; (

c) prescribing the conditions under which guarantees or indem nities m ay be given; (

d) prescribing the conditions under which a guaranteed debt or indem nified contract m ay be transferred by the creditor to a new creditor or by the obligee to a new obligee; (

e) prescribing the inform ation and reports that are required to be subm itted to the Provincial Treasurer or a Provincial corporation by the debtor and the creditor under a guaranteed debt and by the obligor and the obligee under an indem nified contract, and governing the form of the inform ation and reports and the tim es at which they are to be subm itted; (

f) prescribing the form of guarantees and indem nities; (

g) prescribing the am ount and form of the security to be given by the debtor or obligor to the C rown or a Provincial corporation under a guaranteed debt or indem nified contract; (

h) prescribing the inform ation and reports that are required to be subm itted to the Provincial Treasurer by M inisters of the C rown, Provincial corporations or other persons authorized by law to give guarantees or indem nities, and prescribing the form of the inform ation and reports and the tim es at which they are to be subm itted; (

i) prescribing the requirem ents to be m et by creditors or obligees under guaranteed debts or indem nified contracts 3 Explanatory Notes

(6) Section 74 is repealed and the following is substituted: Indemnities by the Crown 74(1) Notwithstanding any other law, including

section 2, the C rown may give an indemnity if and only if the indemnity is in writing and (

a) is ancillary and incidental to the business purpose of an agreement involving the C rown and that agreement is of a kind where no liability under the indemnity is likely, based on the historical experience of giving similar indemnities, to arise in 4

before paym ent or perform ance m ay be m ade on behalf of the C rown or a Provincial corporation as a result of being liable under a guarantee or indem nity; (

j) prescribing the procedures to be followed by a Provincial corporation on the receipt of a dem and for paym ent or perform ance by the Provincial corporation arising out of a guarantee or indem nity and before the paym ent is m ade or the perform ance is undertaken; (

k) prescribing, with respect to

an Act, (

i) the m axim um am ount of the total outstanding contingent liability, excluding interest, of the C rown or a Provincial corporation as a result of guarantees or indem nities given under that Act, (ii) the m axim um am ount of an individual guarantee or indem nity, (iii) the m axim um am ount of the aggregate of loans that m ay be guaranteed in respect of any one person, (iv) the m axim um am ount of the aggregate of obligations that m ay be indem nified in respect of any one person, (

v) the m axim um percentage of the principal am ounts of loans that m ay be guaranteed, or (vi) the m axim um percentage of the total obligation that m ay be indem nified; (

l) exem pting any guarantee or indem nity or any class of guarantee or indem nity from all or part of a regulation m ade under this section.

(2) Regulations under subsection (1) m ay classify guarantees or indem nities by the am ount that is or m ay be involved in the guarantee or indem nity, by the Act under which the guarantee or indem nity is given or by any other m eans, and different provisions m ay govern different classes of guarantees or indem nities.

(3) An instrum ent creating or evidencing a guarantee or indem nity given by the C rown m ay be signed by the Provincial Treasurer.

(6) Section 74 presently reads: 74

(1) In addition to and not in substitution for any other authority that the C rown m ay have to give a guarantee or indem nity, the Lieutenant G overnor in C ouncil, on the recom m endation of a M inister, m ay authorize the giving by the C rown of guarantees or indem nities or classes or types of guarantees or indem nities.

(1.1) A guarantee or indem nity given under subsection (1) (

a) shall be in the form approved by the Provincial Treasurer, and 4 Explanatory Notes

the normal course of the performance of the agreement if the agreement is properly performed, (

b) is given to a person who is purchasing assets from the C rown or from a Provincial agency, (

c) is given to individuals who are or were members of the Executive C ouncil, members of the Legislative A ssembly, employees of the C rown, members of Provincial committees, members or directors of Provincial corporations or members, directors or officers of corporations or unincorporated bodies serving in such capacities at the C rown’s request, and the heirs and legal representatives of any such persons, to indemnify them against costs, charges and expenses, and on the basis, specified by the Lieutenant Governor in C ouncil, (

d) is an indemnity against losses that may be incurred by a financial institution resulting from a loan to a receiver, liquidator, bankruptcy trustee, administrator or other person acting in a similar capacity who is appointed by the C rown, or (

e) is specifically authorized by or under an A ct or a regulation made under this or any other A ct.

(2) Order in C ouncil numbered O.C . 668/92 is validated as if made under this

section and

section 74.2.

(3) The Lieutenant Governor in C ouncil may, on the recommendation of the Provincial Treasurer, make regulations respecting authorizations for the purpose of subsection (1)(e). Guarantees by Crown and Provincial agencies 74.1(1) Notwithstanding any other law, including

section 2, a member of the Executive C ouncil shall not, on behalf of the C rown, give a guarantee of the obligations of any person unless the guarantee is in writing and is specifically authorized by or under (

a) an A ct, or (

b) a subsisting regulation that was in force immediately before the commencement of this section, made under this or any other A ct.

(2) A member of the Executive C ouncil shall not introduce into the Legislative A ssembly an appropriation Bill, or Estimates under such a Bill, that would advance or authorize the advance of money under a guarantee by the C rown 5

(

b) shall be executed on behalf of the G overnm ent by the Provincial Treasurer.

(2) No guarantee of the paym ent of a debt shall be given unless it is (

a) given by

an Act, (

b) authorized by the Lieutenant G overnor in C ouncil, or (

c) if the guarantee is given or authorized other than as provided in clause (

a) or (b), approved by (

i) the Provincial Treasurer, the Treasury Board or the Lieutenant G overnor in C ouncil if the total am ount to be guaranteed under that guarantee is less than $500 000, (ii) the Treasury Board or the Lieutenant G overnor in C ouncil if the total am ount to be guaranteed under that guarantee is $500 000 or m ore but less than $5 000 000, or (iii) the Lieutenant G overnor in C ouncil if the total am ount to be guaranteed under that guarantee is $5 000 000 or m ore. 5 Explanatory Notes

unless the guarantee is specifically authorized by or under an A ct or a regulation referred to in subsection (1)(b). (3) Subsection (1) does not apply with respect to the performance of any commitments that were in existence immediately before the commencement of this section.

(4) A body that is created or that becomes a Provincial agency after the commencement of this

section shall not carry on the business of giving guarantees unless specifically authorized to do so by or under an A ct. Specific authorizations for sections 49.1, 74 and 74.1 purposes 74.2(1) Where a provision of an A ct or of an applicable regulation prohibits a transaction to which

section 49.1, 74 or 74.1 applies unless certain conditions are met or restricts such a transaction to certain financial or other limitations, then that provision, together with the meeting of those conditions or compliance with those limitations, as the case may be, is to be taken as a specific authorization for the purposes of that section.

(2) References in sections 49.1, 74 and 74.1 to specific authorization by an enactment are to be taken (

a) to mean authorization in express terms in or by necessary implication from that enactment, and (

b) to include instances where the transactions are required, are potentially required, or are one of a number of things required, to be done.

(7) Section 76(2) is am ended by striking out “given by the C rown is authorized or approved under

section 74, the Minister who recommended that the guarantee be” and substituting “is given by the C rown pursuant to an A ct that was passed after the commencement of

section 1(7) of the Business Financial Assistance Lim itation Statutes Am endm ent Act, 1996, the member of the Executive C ouncil responsible for that A ct under which it was”. A gricultural Societies A ct Amends RSA 1980 cA-12 2(1) T he A gricultural Societies A ct is am ended by this section.

(2) Section 33 is am ended by adding the following after subsection (3) : 6

(7) Section 76(2) presently reads:

(2) If a guarantee given by the C rown is authorized or approved under

section 74, the M inister who recom m ended that the guarantee be given shall lay the guarantee agreem ent and any m aterial am endm ent to the agreem ent before the Legislative Assem bly not later than 4 5 days after the end of the fiscal year in which the agreem ent or am endm ent, as the case m ay be, is m ade or, if the Legislative Assem bly is not then sitting, not m ore than 15 days after the beginning of the next ensuing sitting. A gricultural Societies A ct 2(1) A mends

chapter A -12 of the Revised Statutes of A lberta 1980.

(2) Requirement to review guarantee provision. 6 Explanatory Notes

(4) A t least every 5th calendar year, if during that period subsection (1) has not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing that enactment, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactment should be repealed.

(3) The following is added after

section 4 3: Transitional - legislative review 44 If applicable, the first m otion required by

section 33(4 ) following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. A griculture Financial Services A ct Amends SA 1993 cA-12.5 3(1) The Agriculture Financial Services Act is am ended by this section.

(2) Section 28 is am ended (

a) in subsection (1) by striking out “, except with the approval of the Lieutenant Governor in C ouncil,”; (

b) in subsection (2) by striking out “without obtaining the approval of the Lieutenant Governor in C ouncil”; (

c) in subsection (3) (

i) by striking out “without obtaining the approval of the Lieutenant Governor in C ouncil”; (ii) by striking out “approved by the Lieutenant Governor in C ouncil” and substituting “allowed”; (iii) by adding “, as the case may be” after “under subsection (2)”; (

d) by repealing subsection (4 ). 7

(3) Transitional - legislative review. A griculture Financial Services A ct 3(1) A mends

chapter A -12.5 of the Statutes of A lberta, 1993.

(2) Section 28 presently reads: 28(1) The C orporation m ust not, except with the approval of the Lieutenant G overnor in C ouncil, (

a) m ake a loan in excess of $1 000 000, (

b) execute a guarantee in excess of $1 000 000, or (

c) approve a loan or execute a guarantee if the sum of the am ount of the loan or guarantee and the then outstanding balance of any other loan or guarantee m ade or executed by the C orporation to or for the benefit of the sam e borrower exceeds in the aggregate $1 000 000.

(2) Notwithstanding subsection (1), the C orporation m ay increase the am ount of an existing loan or guarantee without obtaining the approval of the Lieutenant G overnor in C ouncil when (

a) the balance outstanding of any existing loan or guarantee at the tim e of approval by the C orporation of any increase is then in excess of $1 000 000, (

b) the increase does not exceed 10% of the balance of the loan or guarantee referred to in clause (a), and 7 Explanatory Notes

(3) The following is added after

section 65: Transitional - limitation on financial assistance 65 .1 If an approval was given before the com m encem ent of

section 3(2) of the Business Financial Assistance Lim itation Statutes Am endm ent Act, 1996 under

section 28(1), as it then existed, then the reference in

section 28(3) to the “am ount allowed” under subsection (1) is to be taken as a reference to the am ount so approved. A lberta O pportunity Fund A ct Amends RSA 1980 cA-34 4

(1) The Alberta O pportunity Fund Act is am ended by this section.

(2) Section 11(1) is repealed and the following is substituted: Loans and guarantees 11(1) Without limiting any other provision of this A ct further restricting loans or guarantees, the C ompany may not (

a) make a loan in a principal amount exceeding $1 000 000, (

b) enter into a guarantee where the principal amount of the obligations guaranteed exceeds $1 000 000, or (

c) make a loan, enter into a guarantee or increase the amount of a loan or guarantee, to or for the benefit of a person, if the sum of the principal amount of that loan, guarantee or increase, when combined with the outstanding principal balance of other loans and guarantees made or entered into by the C ompany to or for the benefit of that person, would exceed $1 000 000. 8

(

c) the increase is m ade once only in respect of any existing loan or guarantee.

(3) W here a loan or guarantee to which this

section applies has been m ade or executed, the C orporation m ay (

a) in the case of a loan, convert the loan in whole or in part to a guarantee, or (

b) in the case of a guarantee, convert the guarantee in whole or in part to a loan, without obtaining the approval of the Lieutenant G overnor in C ouncil if the resulting loan or guarantee or both, as the case m ay be, do not exceed in total the am ount approved by the Lieutenant G overnor in C ouncil for the original loan or guarantee under subsection (1) or as provided for under subsection (2). (4 ) If a conflict arises between this

section and

section 74 of the Financial Adm inistration Act with respect to the operation of this section, this

section prevails.

(3) Transitional - retention of higher amount approved before commencement. A lberta O pportunity Fund A ct 4(1) A mends

chapter A -34 of the Revised Statutes of A lberta 1980.

(2) Section 11(1) presently reads: 11(1) No loan or guarantee m ade under this Act m ay exceed $1 000 000 except by order of the Lieutenant G overnor in C ouncil. 8 Explanatory Notes

Feeder A ssociations G uarantee A ct Amends RSA 1980 cF-8 5(1) T he Feeder A ssociations G uarantee A ct is am ended by this section.

(2) Section 2 is am ended by adding the following after subsection (3) :

(4) A t least every 5th calendar year, if during that period subsection (1) has not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing that enactment, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactment should be repealed.

(3) The following is added after

section 5: Transitional - legislative review 6 If applicable, the first m otion required by

section 2(4 ) following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. G overnm ent Em ergency G uarantee A ct Repeals RSA 1980 cG-6 6 The G overnm ent Em ergency G uarantee Act is repealed. Irrigation A ct Amends RSA 1980 cl-11 7(1) T he Irrigation A ct is am ended by this section.

(2) Section 4 7 is am ended by adding the following after subsection (5):

(6) A t least every 5th calendar year, if during that period subsection (4) has not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing that enactment, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactment should be repealed.

(3) The following is added after

section 193: 9

Feeder A ssociations G uarantee A ct 5(1) A mends

chapter F-8 of the Revised Statutes of A lberta 1980.

(2) Requirement to review A ct.

(3) Transitional - legislative review. G overnm ent Em ergency G uarantee A ct 6 Repeals

chapter G-6 of the Revised Statutes of A lberta 1980. irrigation A ct 7(1) A mends

chapter I-11 of the Revised Statutes of A lberta 1980.

(2) Requirement to review guarantee provision.

(3) Transitional - legislative review. 9 Explanatory Notes

Transitional - legislative review 194 If applicable, the first m otion required by

section 4 7(6) following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. Livestock and Livestock Products A ct Amends RSA 1980 cL-24 8(1) The Livestock and Livestock Products Act is am ended by this section.

(2) The following is added after

section 13.3: Review of advances by Legislative Assembly 13.4 A t least every 5th calendar year, if during that period sections 13.2 and 13.3 have not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing those enactments, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactments should be repealed.

(3) The following is added after

section 22: Transitional - legislative review 23 If applicable, the first m otion required by

section 13.4 following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. O il Sands Technology and R esearch A uthority A ct Amends RSA 1980 cO-6 9(1) The O il Sands Technology and Research Authority Act is am ended by this section.

(2) Section 19(7) is am ended (

a) in clause (

a) by striking out “and loans”; (

b) by repealing clause (b).

(3) Section 20 is am ended 10

Livestock and Livestock Products A ct 8(1) A mends

chapter L-24 of the Revised Statutes of A lberta 1980.

(2) Requirement to review advances.

(3) Transitional - legislative review. O il Sands Technology and R esearch A uthority A ct 9(1) A mends

chapter 0-6 of the Revised Statutes of A lberta 1980.

(2) Section 19(7) presently reads:

(7) The following shall be paid out of the Fund: (

a) grants and loans m ade by the Authority pursuant to this Part; (

b) m oney which the G overnm ent is required to pay by reason of its liability as guarantor under a guarantee given on its behalf under this Part; (

c) all other expenditures m ade by the Authority pursuant to

section 20 or pursuant to any agreem ent or arrangem ent entered into under

section 23.

(3) Section 20 presently reads in part: 10 Explanatory Notes

(

a) in subsection (1) by repealing clause (b); (

b) by repealing subsection (2); (

c) in subsection (3) by striking out “or loan” wherever it occurs. (4 )

Section 21 is repealed.

(5) Section 22 is am ended (

a) in clause (

a) by striking out “, loan or guarantee”; (

b) in clause (

j) by striking out “and the granting of loans and giving of guarantees”.

(6) Section 23(1)(

d) is am ended by striking out “or loan”. 11

20(1) Subject to the regulations, the Authority (

b) m ay m ake loans to persons for research projects;

(2) The cost of any research project in respect of which a loan or guarantee is m ade under this Part m ay, in the discretion of the Authority, include labour costs for the Authority’s own em ployees and fees and other charges paid by the Authority for independent experts and for professional consultative services perform ed on a contract basis.

(3) The Authority m ay, as a condition to m aking any grant or loan, (

a) require that the person in whose favour the grant or loan is m ade agree to any supervision by the Authority of his research operations the Authority requires, (

b) require that the person in whose favour the grant or loan is m ade enter into an agreem ent under

section 23, or (

c) prescribe any other conditions on which the grant or loan will be m ade.

(4) Section 21 presently reads: 21(1) The Provincial Treasurer m ay, on the recom m endation of the Authority, guarantee on behalf of the G overnm ent of Alberta the repaym ent, as to principal or interest or both, of a loan m ade to any person for the purposes of a research project.

(2) A guarantee of a loan pursuant to subsection (1) (

a) shall be in the form approved by the Provincial Treasurer, and (

b) m ay be executed on behalf of the G overnm ent by the Provincial Treasurer, the D eputy Provincial Treasurer or by any other person designated by an order of the Lieutenant G overnor in C ouncil, and the signature on the guarantee by any person referred to in clause (

b) is conclusive proof that the relevant provisions of this

section have been com plied with.

(5) Section 22 presently reads in part: 22 The Lieutenant G overnor in C ouncil m ay m ake regulations (

a) prescribing the inform ation that is to be included in or is to accom pany any application for a grant, loan or guarantee under

Part 3; (

j) governing the m aking of grants or other paym ents and the granting of loans and giving of guarantees under

Part 3; (6)

Section 23(1) presently reads in part: 11 Explanatory Notes

R ural Electrification Loan A ct Amends RSA 1980 cR-18 10(1) The Rural Electrification Loan Act is am ended by this section.

(2) The following is added after

section 33: Review of loans by Legislative Assembly 34 A t least every 5th calendar year, if during that period sections 3 and 30 have not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing those enactments, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactments should be repealed. Transitional - legislative review 35 If applicable, the first m otion required by

section 34 following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. R ural Electrification Long Term Financing A ct Amends RSA 1980 cR-17 11(1) The Rural Electrification Long Term Financing Act is am ended by this section.

(2) Section 2 is am ended by renum bering it as

section 2(1) and by adding the following after subsection (1):

(2) A t least every 5th calendar year, if during that period subsection (1) has not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing that enactment, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactment should be repealed.

(3) The following is added after

section 29: Transitional - legislative review 30 If applicable, the first m otion required by

section 2(2) following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. 12

23(1) The Authority m ay enter into an agreem ent with (

d) a person in whose favour a grant or loan has been or is proposed to be m ade under

Part 3 for a research project, R ural Electrification Loan A ct 10(1) A mends

chapter R-18 of the Revised Statutes of A lberta 1980.

(2) Requirement to review loan provisions and transitional legislative review provision. R ural Electrification Long Term Financing A ct 11(1) A mends

chapter R-17 of the Revised Statutes of A lberta 1980.

(2) Requirement to review loan provision.

(3) Transitional - legislative review. 12 Explanatory Notes

R ural U tilities A ct Amends SA 1985 cR-21 12(1) The Rural U tilities Act is am ended by this section.

(2) The following is added after

section 33: Review of guarantees by Legislative Assembly 33.1 A t least every 5th calendar year, if during that period sections 32 and 33 have not been repealed and a Government Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing those enactments, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactments should be repealed.

(3) The following is added before

section 54 : Transitional - legislative review 5 3.1 If applicable, the first m otion required by

section 33.1 following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. Special W aste M anagem ent C orporation A ct Amends SA 1982 cS-21.5 13(1) The Special W aste M anagem ent C orporation Act is am ended by this section. (2) Subsections (1) and (2) of

section 11 are am ended by adding “and” at the end of clause (a), by striking out “and” at the end of clause (

b) and by repealing clause (c). 13

R ural U tilities A ct 12(1) A mends

chapter R-21 of the Statutes of A lberta, 1985.

(2) Requirement to review guarantee provisions.

(3) Transitional - legislative review. Special W aste M anagem ent C orporation A ct 13(1) A mends

chapter S-21.5 of the Statutes of A lberta, 1982.

(2) Section 11 presently reads: 11(1) The C orporation in the furtherance of its objects m ay by by-law (

a) borrow m oney, (

b) issue notes, bonds, debentures or other securities or m ortgage or pledge any of the C orporation’s property to secure m oney borrowed by or an obligation or liability of the C orporation, and (

c) guarantee the indebtedness of any person acting as agent of the C orporation for the purposes of carrying out the C orporation’s objects.

(2) The repaym ent of (

a) the principal and interest of any borrowings by the C orporation, (

b) the principal and interest of and any prem ium s payable under, any notes, bonds, m ortgages. 13 Explanatory Notes

Treasury B ranches A ct Amends RSA 1980 cT-7 14

(1) The Treasury Branches Act is am ended by this section.

(2) The following is added after

section 21: Review of guarantee, etc., provisions by Legislative Assembly 22 A t least every 5th calendar year, if during that period

section 6 has not been repealed and a Bill has not been introduced into the Legislative A ssembly that, if passed, would have the effect of repealing that enactment, the Minister shall ensure that a member of the Executive C ouncil introduces into the Legislative A ssembly a motion that would have the effect of facilitating a debate in the A ssembly on the question of whether or not the enactment should be repealed. Transitional - legislative review 23 If applicable, the first m otion required by

section 22 following its com m encem ent m ust, notwithstanding that enactm ent, be introduced in or before the first sitting of the Legislative Assem bly held in 1999. 14

debentures or other securities issued by the C orporation, and (

c) the obligations incurred pursuant to any guarantee are hereby guaranteed by the G overnm ent. Treasury B ranches A ct 14(1) A mends

chapter T-7 of the Revised Statutes of A lberta 1980.

(2) Requirement to review guarantee and investment etc., provisions and transitional legislative review provision. 14 Explanatory Notes Title: 1996 (23rd, 4th) Bill 31, Business Financial A ssistance Limitation Statutes A mendment A ct, 1996

Document details

Collection	Alberta — Bills
Citation	L23 S4 1154
Type	bill
Volume / chapter	L23 S4 1154
Language	en
Format	json
Source	PROVINCIAL
Identifier	e922d04eb8f61a104a4f902a85335a2bdfefa2a9

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