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S.M. 2014, c. 3

Bill 76, 3rd Session, 40th Legislature

The Loan Act, 2014

Table of contents

(Assented to June 12, 2014)

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



The following definitions apply in this Act.

"agency" means a corporation or agency mentioned in the Schedule or to which money may be advanced under a program mentioned in the Schedule. (« organisme »)

"government's borrowing authority" means the unused portion of the authority provided to the government under section 2, or under a similar provision of a previous Loan Act, to borrow money for purposes other than to refinance debt. (« pouvoir d'emprunt du gouvernement »)

Increase in government's borrowing authority


The authority of the government to borrow for purposes other than to refinance debt is increased by $2,934,000,000.

Borrowing authority of agency


Subject to subsection (3), an agency may borrow or raise for its purposes amounts not exceeding, in total, the amounts set out for the agency in the Schedule. This is in addition to any amounts that an agency may borrow

(a) to refinance debt; or

(b) under a statutory authority to borrow money for temporary purposes or working capital.

Manner of raising money


Amounts borrowed or raised under subsection (1) may be borrowed or raised

(a) by means of a loan from the government; or

(b) subject to subsection (3), by any other means authorized by the agency's governing legislation and approved by the Lieutenant Governor in Council.

Abatement of government's borrowing authority


An amount borrowed or raised under clause (2)(b) reduces, and must not exceed, the government's borrowing authority.

Agency guarantee abates borrowing authority


The amount of a guarantee provided by an agency reduces, and must not exceed the lesser of,

(a) the government's borrowing authority; and

(b) the agency's unused borrowing authority under subsection (1).

LG in C may authorize advances


The Lieutenant Governor in Council may authorize amounts to be advanced to agencies or for programs as set out in the Schedule.

Lapse of previous borrowing authority


Any unused authority under section 3 or 4 of The Loan Act, 2013 to borrow or advance an amount set out in a Schedule to that Act lapses except to the extent it is included in the Schedule to this Act.

Additional authority for loans and guarantees


Until changed by another Act of the Legislature, the total of the loans and guarantees that the government provides under section 63 of The Financial Administration Act in a fiscal year must not exceed $200,000,000.

Authority to borrow


An agency or other person that needs legislative authority to borrow an amount to be advanced to it by the government under section 63 of The Financial Administration Act is deemed to have that authority.

Coming into force


This Act is deemed to have come into force on April 1, 2014.




Existing Authority New or Additional Authority TOTAL
Crown Corporations Council
Communities Economic Development Fund 3,346 9,800 13,146
The Manitoba Hydro-Electric Board 2,183,495 1,287,000 3,470,495
Manitoba Liquor and Lotteries Corporation 233,327 57,700 291,027

Existing authority — $18,948,000 is for First Nations Capital Program

Additional authority — $20,200,000 is for First Nations Capital Program

Aboriginal and Northern Affairs
Northern Affairs Communities 11,445 —    11,445
Agriculture, Food and Rural Development
Manitoba Agricultural Services Corporation 195,706 99,116 294,822
Conservation and Water Stewardship
Cottage Lots Development 6,971 —    6,971
Special Operating Agencies Financing Authority:

Pineland Forest Nursery

100 —    100
Education and Advanced Learning
Manitoba Student Aid Program —    35,036 35,036
Post-Secondary Institutions 48,557 14,825 63,382
International Education 330 —    330
Leaf Rapids Town Properties Ltd. 500 500 1,000
Health, Healthy Living and Seniors
Health Capital Program 474,455 290,973 765,428
Diagnostic Services of Manitoba, Inc. 30,225 1,993 32,218
Housing and Community Development
Manitoba Housing and Renewal Corporation 399,558 266,199 665,757
Co-operative Loans and Loans Guarantee Board 3,500 —    3,500
Infrastructure and Transportation
Special Operating Agencies Financing Authority:

Crown Lands and Property Agency

5,000 —    5,000

Vehicle and Equipment Management Agency

5,000 24,000 29,000
Jobs and the Economy
Manitoba Opportunities Fund Ltd. 94,262 71,167 165,429
Business Support 170,510 5,383 175,893
Manitoba Science and Technology Fund 670 —    670
Manitoba Film Guarantee Program 865 360 1,225
Special Operating Agencies Financing Authority:

Industrial Technology Centre

910 —    910
Municipal Government
Manitoba Water Services Board 60,451 22,195 82,646
Tourism, Culture, Heritage, Sport and Consumer Protection
Sport Manitoba Inc. —    6,000 6,000
Travel Manitoba 1,500 —    1,500
Venture Manitoba Tours Ltd. 665 —    665
Special Operating Agencies Financing Authority:

The Vital Statistics Agency

250 —    250
3,931,598 2,192,247 6,123,845