BILL NO. 27
1st Session, 57th General Assembly
Nova Scotia
47 Elizabeth II, 1998
Provincial Finance Act
(amended)
Howard Epstein
Halifax-Chebucto
First Reading: October 15, 1998
Second Reading:
Third Reading:
Explanatory Notes
Clause 1 requires the annual estimates of the Government of the Province to include
(a) a statement of revenue foregone by the Province by reason of tax exemptions or exceptions; and
(b) all contingent liabilities of the Province.
Clause 2 requires the Public Accounts of the Province to show
(a) all contingent liabilities of the Province; and
(b) all debts or deficits incurred by municipalities, hospital boards and school boards.
An Act to Amend Chapter 365
of the Revised Statutes, 1989,
the Provincial Finance Act
Be it enacted by the Governor and Assembly as follows:
1 Subsection 7A(2) of Chapter 365 of the Revised Statutes, 1989, the Provincial Finance Act, as enacted by Chapter 29 of the Acts of 1994, is amended by
(a) striking out "and" at the end of clause (a);
(b) striking out the period at the end of clause (b) and substituting a semicolon; and
(c) adding the following clauses:
(d) all contingent liabilities of the Province including
(ii) the event triggering the contingency, and
(iii) an assessment of the likelihood of the event occurring.
2 Subsection 9(2) of Chapter 365 is amended by adding immediately after clause (e) the following clauses:
(ii) the event triggering the contingency, and
(iii) an assessment of the likelihood of the event occurring;
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 1998 Crown in right of Nova Scotia. Created October 15, 1998. Send comments to legc.office@gov.ns.ca.
