Thank you, Madam Chair. The process used is one where we as a government would give any type of assistance to any company. We would have to account for it as a grant-in-kind. If we were to forego, for example, the principal and not have any other action in mind, then we would start falling into the category of debt or bad debt situation. We are receiving and will be paid out the principal, but to have that arrangement made, the government has foregone the interest portion of that payment and it is considered as a grant-in-kind. It is helping a business stay active and that is the consideration in how we would account for this. Thank you.
Floyd Roland on Committee Motion 2-14(5): Options For Measures To Stabilize Power Subsidy Costs, Carried
In the Legislative Assembly on March 22nd, 2004. See this statement in context.
Committee Motion 2-14(5): Options For Measures To Stabilize Power Subsidy Costs, Carried
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
March 21st, 2004
Page 134
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