Acts and Regulations

2015, c.44 - Service New Brunswick Act

Section 27
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Full text
Borrowing
27(1)Service New Brunswick may, with the approval of the Minister of Finance and Treasury Board, borrow money from and make arrangements with any chartered bank for loans or money overdrafts and may mortgage the lands and other assets of Service New Brunswick to secure those loans.
27(2)The Lieutenant-Governor in Council may from time to time and on the terms and conditions that the Lieutenant-Governor in Council considers expedient, authorize the guarantee by the Minister of Finance and Treasury Board, on behalf of the Crown in right of the Province, of the repayment of all money borrowed by Service New Brunswick under this section, and that guarantee, when given, renders the Crown in right of the Province liable for the repayment of the money borrowed.
27(3)The Minister of Finance and Treasury Board may advance out of the Consolidated Fund the sums that are necessary for the purpose of discharging, in whole or in part, all or any liabilities of Service New Brunswick guaranteed under subsection (2), and all sums advanced are to be repaid by Service New Brunswick in the amounts and at the times determined by the Minister of Finance and Treasury Board and, until paid, bear interest at a rate determined by the Minister of Finance and Treasury Board.
2019, c.29, s.148
Borrowing
27(1)Service New Brunswick may, with the approval of the Minister of Finance, borrow money from and make arrangements with any chartered bank for loans or money overdrafts and may mortgage the lands and other assets of Service New Brunswick to secure those loans.
27(2)The Lieutenant-Governor in Council may from time to time and on the terms and conditions that the Lieutenant-Governor in Council considers expedient, authorize the guarantee by the Minister of Finance, on behalf of the Crown in right of the Province, of the repayment of all money borrowed by Service New Brunswick under this section, and that guarantee, when given, renders the Crown in right of the Province liable for the repayment of the money borrowed.
27(3)The Minister of Finance may advance out of the Consolidated Fund the sums that are necessary for the purpose of discharging, in whole or in part, all or any liabilities of Service New Brunswick guaranteed under subsection (2), and all sums advanced are to be repaid by Service New Brunswick in the amounts and at the times determined by the Minister of Finance and, until paid, bear interest at a rate determined by the Minister of Finance.
Borrowing
27(1)Service New Brunswick may, with the approval of the Minister of Finance, borrow money from and make arrangements with any chartered bank for loans or money overdrafts and may mortgage the lands and other assets of Service New Brunswick to secure those loans.
27(2)The Lieutenant-Governor in Council may from time to time and on the terms and conditions that the Lieutenant-Governor in Council considers expedient, authorize the guarantee by the Minister of Finance, on behalf of the Crown in right of the Province, of the repayment of all money borrowed by Service New Brunswick under this section, and that guarantee, when given, renders the Crown in right of the Province liable for the repayment of the money borrowed.
27(3)The Minister of Finance may advance out of the Consolidated Fund the sums that are necessary for the purpose of discharging, in whole or in part, all or any liabilities of Service New Brunswick guaranteed under subsection (2), and all sums advanced are to be repaid by Service New Brunswick in the amounts and at the times determined by the Minister of Finance and, until paid, bear interest at a rate determined by the Minister of Finance.