Orders in Council Database

Under the authority of The Loan and Guarantee Act, 1957, the Lieutenant Governor in Council is pleased to authorize the Minister of Finance to extend the guarantee on behalf of the Newfoundland Symphony Orchestra Association in the amount of $50,000, to expire on March 31, 2007.  The guarantee is to be subject to the following terms and conditions:

i) the Newfoundland Symphony Orchestra Association to submit to the Department of Finance a deficit elimination plan, incorporating an exit strategy with respect to the Government loan guarantee;

ii) an annual guarantee fee of $1,000; and

iii) such other terms and conditions as are deemed necessary by the Departments of Finance and Justice, including the provision of year end audited financial statements and an annual budget.