Bill C-21

If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.

PDF

	RECOMMENDATION
	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''.
	SUMMARY
	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.
	EXPLANATORY NOTES
	Clause 1: (1) The relevant portion of subsection 6(1) reads as follows:
	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
	. . .
	(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.
	(2) Subsection 6(2) reads as follows:
	(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.