House of Representatives

Motions

Increase in Borrowing – Guarantee of Loans (Companies) Act

- 2nd Session - 10th Republican Parliament

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)

7 Sep 2011
Approved
House DebateHansard
10 speakersShow Speakers
1.The Honourable Winston Dookeran [Tunapuna] [Minister of Finance]
2.The Honourable Dr. Keith Rowley [Diego Martin West] [Leader of the Opposition]
3.The Honourable Kamla Persad-Bissessar SC [Siparia] [Prime Minister]
4.The Honourable Colm Imbert [Diego Martin North/East] [Opposition Member]
5.Senator Dr. Tim Gopeesingh [Caroni East] [Minister of Education]
6.Ms. Alicia Hospedales [Arouca/Maloney] [Opposition Member]
7.Mr. Jack Warner [Chaguanas West] [Minister of Works and Infrastructure]
8.Mr. Fitzgerald Jeffrey [La Brea] [Opposition Member]
9.Senator Anil Roberts [D’Abadie/O’Meara] [Minister of Sport]
10.The Honourable Winston Dookeran [Tunapuna] [Minister of Finance]
9 Sep 2011
Approved
Senate DebateHansard
18 speakersShow Speakers
1.The Honourable Winston Dookeran [Tunapuna] [Minister of Finance]
2.Senator Dr. Lester Henry [Opposition Senator]
3.Senator Subhas Ramkhelawan [Independent Senator]
4.Senator Vasant Bharath [Minister of Food Production, Land and Marine Affairs]
5.The Honourable Shamfa Cudjoe [Opposition Senator]
6.Senator Dr. Rolph Balgobin [Independent Senator]
7. Dr. Bhoendradatt Tewarie [Minister of Planning and the Economy]
8.The Honourable Fitzgerald Hinds [Opposition Senator]
9.Senator Prof. Harold Ramkissoon [Independent Senator]
10.Senator the Honourable Kevin Ramnarine [Minister of Energy and Energy Affairs]
12.Senator Dr. James Armstrong [Independent Senator]
14.The Honourable Faris Al-Rawi [Opposition Senator]
15.Senator Prof. Karl Theodore [Independent Senator (Temporary)]
16.Mr. Fazal Karim [Minister of Science, Technology and Tertiary Education]
17.The Honourable Pennelope Beckles-Robinson [Leader of Opposition Business in the Senate]
18.The Honourable Winston Dookeran [Tunapuna] [Minister of Finance]