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His Excellency the Governor General recommends to the House of
Commons the appropriation of public revenue under the circumstances,
in the manner and for the purposes set out in a measure entitled ``An Act
to amend the Small Business Loans Act''.
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This enactment amends the Small Business Loans Act to extend the
application of the Act to March 31, 1999, and to increase the ceiling for
guaranteed business improvement loans to $15 billion.
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Clause 1: (1) The relevant portion of subsection 6(1)
reads as follows:
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6. (1) The Minister is not liable under this Act to make any payment
to a lender in respect of any loss sustained by it as a result of a business
improvement loan
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(d) made during the period commencing on April 1, 1993 and ending
on March 31, 1998, after the aggregate principal amount of the loans
submitted by all lenders to the Minister and registered as guaranteed
business improvement loans made during that period exceeds
fourteen billion dollars or such other amount as is provided by an
appropriation Act or other Act of Parliament.
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(2) Subsection 6(2) reads as follows:
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(2) The Minister is not liable under this Act to make any payment to
a lender in respect of any loss sustained by it as a result of a business
improvement loan made after March 31, 1998.
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