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Bill C-21

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1st Session, 36th Parliament,
46 Elizabeth II, 1997

The House of Commons of Canada

BILL C-21

An Act to amend the Small Business Loans Act

R.S., c. S-11; R.S., c. 19 (1st Supp.), c. 14, (2nd Supp.), c. 22 (3rd Supp.); 1990, c. 10; 1991, c. 47; 1992, c. 1; 1993, cc. 6, 34; 1995, c. 48

      Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

1993, c. 6, s. 4(1); 1994, c. 48, sch. (Industry Vote 2b); 1997, c. 7, sch. (Industry Vote 2b)

1. (1) Paragraph 6(1)(d) of the Small Business Loans Act is replaced by the following:

    (d) made during the period commencing on April 1, 1993 and ending on March 31, 1999 , 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 fifteen billion dollars or such other amount as is provided by an appropriation Act or other Act of Parliament.

1993, c. 6, s. 4(2)

(2) Subsection 6(2) of the Act is replaced by the following:

(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, 1999 .