Acts and Regulations

2013, c.7 - Electricity Act

Section 44
Disposition versions

Full text
Money raised for the Corporation and guarantees
44(1)The Lieutenant-Governor in Council may raise, by way of loan in the manner provided by the Provincial Loans Act, such sums as the Lieutenant-Governor in Council considers necessary for the benefit of the Corporation, and the sums so raised may either be advanced to the Corporation or applied by the Minister of Finance and Treasury Board in the purchase of notes, bonds, debentures or other securities issued by the Corporation.
44(2)Subject to subsection (3), all advances made under subsection (1) to the Corporation shall be made on the terms and conditions agreed on between the Corporation and the Minister of Finance and Treasury Board.
44(3)The Corporation shall reimburse the Minister of Finance and Treasury Board for all charges and expenses incurred or to be incurred by the Minister of Finance and Treasury Board in connection with the creation and issuance of any notes, bonds, debentures or other securities for the purpose of raising the money advanced.
44(4)The Lieutenant-Governor in Council may guarantee the obligations of the Corporation or any subsidiary of the Corporation on terms and conditions that the Lieutenant-Governor in Council considers appropriate and any such guarantee shall be valid despite subsection 3(3).
44(5)The Minister of Finance and Treasury Board may, on behalf of the Crown, enter into agreements with the Corporation for the purposes of this section.
2019, c.29, s.46
Money raised for the Corporation and guarantees
44(1)The Lieutenant-Governor in Council may raise, by way of loan in the manner provided by the Provincial Loans Act, such sums as the Lieutenant-Governor in Council considers necessary for the benefit of the Corporation, and the sums so raised may either be advanced to the Corporation or applied by the Minister of Finance in the purchase of notes, bonds, debentures or other securities issued by the Corporation.
44(2)Subject to subsection (3), all advances made under subsection (1) to the Corporation shall be made on the terms and conditions agreed on between the Corporation and the Minister of Finance.
44(3)The Corporation shall reimburse the Minister of Finance for all charges and expenses incurred or to be incurred by the Minister of Finance in connection with the creation and issuance of any notes, bonds, debentures or other securities for the purpose of raising the money advanced.
44(4)The Lieutenant-Governor in Council may guarantee the obligations of the Corporation or any subsidiary of the Corporation on terms and conditions that the Lieutenant-Governor in Council considers appropriate and any such guarantee shall be valid despite subsection 3(3).
44(5)The Minister of Finance may, on behalf of the Crown, enter into agreements with the Corporation for the purposes of this section.
Money raised for the Corporation and guarantees
44(1)The Lieutenant-Governor in Council may raise, by way of loan in the manner provided by the Provincial Loans Act, such sums as the Lieutenant-Governor in Council considers necessary for the benefit of the Corporation, and the sums so raised may either be advanced to the Corporation or applied by the Minister of Finance in the purchase of notes, bonds, debentures or other securities issued by the Corporation.
44(2)Subject to subsection (3), all advances made under subsection (1) to the Corporation shall be made on the terms and conditions agreed on between the Corporation and the Minister of Finance.
44(3)The Corporation shall reimburse the Minister of Finance for all charges and expenses incurred or to be incurred by the Minister of Finance in connection with the creation and issuance of any notes, bonds, debentures or other securities for the purpose of raising the money advanced.
44(4)The Lieutenant-Governor in Council may guarantee the obligations of the Corporation or any subsidiary of the Corporation on terms and conditions that the Lieutenant-Governor in Council considers appropriate and any such guarantee shall be valid despite subsection 3(3).
44(5)The Minister of Finance may, on behalf of the Crown, enter into agreements with the Corporation for the purposes of this section.