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The Energy Rate Stabilization Repeal Act

S.M. 1991-92, c. 40

Bill 64, 2nd Session, 35th Legislature

The Energy Rate Stabilization Repeal Act

(Assented to July 26, 1991)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M., c. E115 amended

1           The Energy Rate Stabilization Act is amended by adding the following after section 11.3:

Present value settlement

11.4        Notwithstanding the other provisions of this Act, the Minister of Finance may enter into an agreement with Manitoba Hydro

(a) fixing the present value of the government's liability to Manitoba Hydro under this Act; and

(b) providing for the payment to Manitoba Hydro of the amount so fixed on any terms and conditions that the Minister of Finance considers appropriate.

C.C.S.M., c. E115 repealed

2           The Energy Rate Stabilization Act is repealed.

Coming into force

3(1)        Subject to subsection (2), this Act comes into force on the day it receives royal assent.

Section 2, proclamation

3(2)        Section 2 comes into force on a day fixed by proclamation.