OC2007-317
2007-07-30
Finance
The Loan and Guarantee Act, 1957
Under the authority of The Loan and Guarantee Act, 1957, the Lieutenant Governor in Council is pleased to authorize the Minister of Finance to renew the $2.1 million loan guarantee on behalf of the Torngat Fish Producers Co-operative Society Limited to cover working capital requirements. The guarantee is to expire not later than May 31, 2011 and is to be subject to the following terms and conditions:
i) the Province to maintain its existing security;
ii) payment of a 2% guarantee fee; and
iii) such other terms and conditions as the Departments of Finance and Justice deem necessary to secure the Province=s interests.