Thank you, Mr. Chairman. The section 20 does not make a specific limit on the borrowing of the subsidiary other than to make it subject to Financial Management Board approval. The Financial Management Board, of course, is limited by the federal Order-in-Council limit on total GNWT debt. So there is a limit on aggregate borrowing that is reflected on the government's books, and that is the federal Order-in-Council limit. So that's why we ensure that any subsidiary borrowing has to be approved by the Financial Management Board to make sure that any borrowing by a hydro subsidiary does not put the government's overall debt limit in any jeopardy.
Mr. Voytilla on Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on May 16th, 2007. See this statement in context.
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 20: Consideration In Committee Of The Whole Of Bills And Other Matters
May 15th, 2007
Page 256
Voytilla
See context to find out what was said next.