12th REPUBLICAN PARLIAMENT: 1st SESSION

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House of Representatives

Motions

2nd Session of the 10th Republican Parliament

Increase in Borrowing - Guarantee of Loans (Companies) Act

WHEREAS it is provided by subsection (1)(a) of section 3 of the Guarantee of Loans (Companies) Act, Chap. 71:82, (hereinafter referred to as "the Act"), that the Government may, in such manner and on such terms and subject to such conditions as may be agreed between it and a Lending Agency, guarantee the discharge by a Company of its obligations under any agreement which may be entered into by the Company with a Lending Agency in respect of any borrowing by that Company that is authorized by the Government:

AND WHEREAS it is provided by subsection (1) of section 4 of the Act, that the aggregate amount of all borrowings by Companies that are guaranteed by the Government under the Act shall not exceed fifty million dollars (without taking into account any amount in respect of interest, commissions and any other expenses secured by the guarantees) or such greater sum as may from time to time be specified by Resolution of the Senate and the House of Representatives:

AND WHEREAS by Resolution passed in the House of Representatives on the 17th day of January, 2003 and in the Senate on the 28th day of January, 2003 an aggregate sum of nine thousand million dollars was specified:

AND WHEREAS it is now necessary to increase the aggregate amount of all borrowings by Companies that are guaranteed by the Government under the Act by a further sum of sixteen thousand million dollars:

BE IT RESOLVED that the aggregate amount of all borrowings by Companies that are guaranteed by the Government under the Act shall not exceed twenty-five thousand million dollars in the currency of Trinidad and Tobago.

(By the Minister of Finance)

First Debated: 07-Sep-2011
Approved on: 7-Sep-2011
9-Sep-2011
Speakers in the:
House of Representatives
07-Sep-2011 House Debate | Hansard PDF icon (755.0 kb)
Hon. Winston Dookeran, MP [Tunapuna] [Minister of Finance]
Hon. Dr. Keith Rowley, MP [Diego Martin West] [Leader of the Opposition]
Hon. Kamla Persad-Bissessar, MP [Siparia] [Prime Minister]
Mr. Colm Imbert, MP [Diego Martin North/East] [Opposition Member]
Hon. Dr. Tim Gopeesingh, MP [Caroni East] [Minister of Education]
Ms. Alicia Hospedales, MP [Arouca/Maloney] [Opposition Member]
Hon, Jack Warner, MP [Chaguanas West] [Minister of Works and Infrastructure]
Mr. Fitzgerald Jeffrey, MP [La Brea] [Opposition Member]
Hon. Anil Roberts, MP [D'Abadie/O'Meara] [Minister of Sport]
Hon. Winston Dookeran, MP [Tunapuna] [Minister of Finance]
Senate
09-Sep-2011 Senate Debate | Hansard PDF icon (1,504.2 kb)
Hon. Winston Dookeran, MP [Tunapuna] [Minister of Finance]
Sen. Dr. Lester Henry [Opposition Senator]
Sen Subhas Ramkhelawan [Independent Senator]
Sen. the Hon. Vasant Bharath [Minister of Food Production, Land and Marine Affairs]
Sen. Shamfa Cudjoe [Opposition Senator]
Sen. Dr. Rolph Balgobin [Independent Senator]
Sen. the Hon. Dr. Bhoendradatt Tewarie [Minister of Planning and the Economy]
Sen. Fitzgerald Hinds [Opposition Senator]
Sen. Prof. Harold Ramkissoon [Independent Senator]
Sen. the Hon. Kevin Ramnarine [Minister of Energy and Energy Affairs]
Sen. Terrence Deyalsingh [Opposition Senator]
Sen. Dr. James Armstrong [Independent Senator]
Sen. the Hon. Anand Ramlogan [Attorney General]
Sen. Faris Al-Rawi [Opposition Senator]
Sen. Prof. Karl Theodore [Independent Senator (Temporary)]
Sen. the Hon. Fazal Karim [Minister of Science, Technology and Tertiary Education]
Sen. Pennelope Beckles [Leader of Opposition Business in the Senate]
Hon. Winston Dookeran, MP [Tunapuna] [Minister of Finance]
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