Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .
Legislative Assembly for the ACT: 2000 Week 5 Hansard (10 May) . . Page.. 1380 ..
MR HUMPHRIES (Treasurer, Attorney-General and Minister for Justice and Community Safety): Mr Deputy Speaker, for the information of members, I present the following paper:
Financial management Act, pursuant to subsection 47 (3) - Approval of a guarantee under an agreement between the Australian Capital Territory and the CPS Credit Union Co-operative (ACT) for a loan under the New Enterprise Loan Guarantee Scheme, dated 3 May 2000.
I ask for leave to make a short statement.
Leave granted.
MR HUMPHRIES: Thank you members. For the information of members, I present that instrument. The underlying principle of the scheme is to provide small businesses with financing for capital investments in the expectation that they will succeed in establishing and developing their businesses and increasing their potential for future business growth. It is intended that the scheme will give eligible applicants access to loans to a maximum of $10,000 over a period of up to four years from an approved financial institution. The CPS Credit Union has agreed to support the principles of the scheme by providing concession rates to eligible applicants and has been selected as the loan provider.
The attached FMA instrument has been approved by the chief executive, Department of Treasury and Infrastructure, as delegate, pursuant to the small business loans scheme. The loan guarantee is for Ms Julie Anne Bogotto, the owner of the Wooden Peg Doll Company, an ACT company that operates in the unique greeting card industry. I stress that these are guarantees, not loans, grants or any other forms of financial assistance, and that the maximum exposure under the scheme is kept at $500,000. To date, loans to the value of $70,470 have been approved under the scheme.
MR DEPUTY SPEAKER (Mr Wood): Mr Speaker has received a letter from Mr Hird proposing that a matter of public importance be submitted to the Assembly for discussion, namely:
The significance for the ACT and region of Impulse Airlines establishing its airlines operations in Canberra.
MR HIRD (3.37): Mr Deputy Speaker, I am delighted to rise to speak on this topic. Those opposite have rubbished our Chief Minister on numerous occasions. At this time they should be praising the Chief Minister, and I will tell you why, Mr Deputy Speaker.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .