Forgiveness of Debts (sub-Saharan Africa) Act (S.C. 1989, c. 25)
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Act current to 2024-11-26
Forgiveness of Debts (sub-Saharan Africa) Act
S.C. 1989, c. 25
Assented to 1989-12-15
An Act relating to the forgiveness of debts incurred or assumed in respect of certain official development assistance loans made by the Government of Canada to the governments of certain countries in sub-Saharan Africa
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
Marginal note:Short title
1 This Act may be cited as the Forgiveness of Debts (sub-Saharan Africa) Act.
Marginal note:Forgiveness of debts
2 The official development assistance debts owing by the governments of certain countries in sub-Saharan Africa to the Government of Canada under the loan agreements entered into between those governments and referred to in the schedule are hereby forgiven.
Marginal note:Deletion from the accounts of Canada
3 The amount outstanding as recorded in the accounts of Canada in respect of the debts forgiven by section 2 is hereby written off as a budgetary expenditure and deleted from those accounts.
Marginal note:Coming into force
Footnote *4 This Act shall come into force on a day to be fixed by order of the Governor in Council.
Return to footnote *[Note: Act in force March 25, 1990, see SI/90-49.]
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