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 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 May 31, 2007 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, Justice and Fisheries and Aquaculture deem necessary to secure the Province's interests.