House of Representatives

Motions

Increase of Debt Limit under the Guarantee of Loans Act

- 1st Session - 11th 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 by Resolution passed in the House of Representatives on the 8th day of September 2011, and in the Senate on the 10th day of September, 2011, an aggregate sum of twenty-five 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 twenty 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 forty-five thousand million dollars in the currency of Trinidad and Tobago.

(By the Minister of Finance)

4 Dec 2015
Approved
11 speakersShow Speakers
1.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
2. Dr. Bhoendradatt Tewarie [Caroni Central] [Opposition Member]
3.Ms. Marlene McDonald [Port-of-Spain South] [Minister of Housing and Urban Development]
4. Dr. Surujrattan Rambachan [Tabaquite] [Opposition Member]
5.The Honourable Anthony Garcia [Arima] [Minister of Education]
6.Mr. Prakash Ramadhar [St. Augustine] [Opposition Member]
7.The Honourable Maj. Gen. Edmund Dillon [Point Fortin] [Minister of National Security]
8.Mr. Rodney Charles [Naparima] [Opposition Member]
9.The Honourable Terrence Deyalsingh [St. Joseph] [Minister of Health]
10.Mr. Barry Padarath [Princes Town] [Opposition Member]
11.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
8 Dec 2015
Approved
Senate Debate Day 1Hansard
19 speakersShow Speakers
1.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
2.Senator Wade Mark [Opposition Senator]
3.Senator Stephen Creese [Independent Senator]
4.Senator Dr. Lester Henry [Government Senator]
5.Ms. Khadijah Ameen [Opposition Senator]
6.Senator H.R. Ian Roach [Independent Senator]
7.Senator the Honourable Franklin Khan [Minister of Rural Development and Local Government]
8.Senator Wayne Munro [Opposition Senator (Temporary)]
9.Senator Paul Richards [Independent Senator]
10.Senator Taurel Shrikissoon [Independent Senator]
11.Senator Wayne Sturge [Opposition Senator]
12.Senator the Honourable Clarence Rambharat [Minister of Agriculture, Land and Fisheries]
13.Senator Melissa Ramkissoon [Independent Senator]
14.Senator Jennifer Raffoul [Independent Senator]
15.Senator Gerald Hadeed [Opposition Senator]
16.Senator David Small [Independent Senator]
17.Senator Rodger Samuel [Opposition Senator]
18.Senator Dr. Dhanayshar Mahabir [Independent Senator]
19.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]