11th REPUBLICAN PARLIAMENT: 4th SESSION

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Motions

1st Session of the 11th Republican Parliament

Increase of Debt Limit under the Guarantee of Loans 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 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)

First Debated: 04-Dec-2015
Approved on: 4-Dec-2015
8-Dec-2015
Speakers in the:
House of Representatives
04-Dec-2015 House of Representatives Debate Day 1 - View Resolution here PDF icon (22.7 kb) | Hansard PDF icon (791.0 kb)
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
Dr. Bhoendradatt Tewarie, MP [Caroni Central] [Opposition Member]
Hon. Marlene McDonald, MP [Port-of-Spain South] [Minister of Housing and Urban Development]
Dr. Surujrattan Rambachan, MP [Tabaquite] [Opposition Member]
Hon. Anthony Garcia, MP [Arima] [Minister of Education]
Mr. Prakash Ramadhar, MP [St. Augustine] [Opposition Member]
Hon. Maj. Gen. Edmund Dillon, MP [Point Fortin] [Minister of National Security]
Mr. Rodney Charles, MP [Naparima] [Opposition Member]
Hon. Terrence Deyalsingh, MP [St. Joseph] [Minister of Health]
Mr. Barry Padarath, MP [Princes Town] [Opposition Member]
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
Senate
08-Dec-2015 Senate Debate Day 1 | Hansard PDF icon (1,082.0 kb)
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
Sen. Wade Mark [Opposition Senator]
Sen. Stephen Creese [Independent Senator]
Sen. Dr. Lester Henry [Government Senator]
Sen. Khadijah Ameen [Opposition Senator]
Sen. H.R. Ian Roach [Independent Senator]
Sen. the Hon. Franklin Khan [Minister of Rural Development and Local Government]
Sen. Wayne Munro [Opposition Senator (Temporary)]
Sen. Paul Richards [Independent Senator]
Sen. Taurel Shrikissoon [Independent Senator]
Sen. Wayne Sturge [Opposition Senator]
Sen. the Hon. Clarence Rambharat [Minister of Agriculture, Land and Fisheries]
Sen. Melissa Ramkissoon [Independent Senator]
Sen. Jennifer Raffoul [Independent Senator]
Sen. Gerald Hadeed [Opposition Senator]
Sen. David Small [Independent Senator]
Sen. Rodger Samuel [Opposition Senator]
Sen. Dr. Dhanayshar Mahabir [Independent Senator]
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
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