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 $2.1 million loan guarantee on behalf of the Torngat Fish Producers Co-operative Society Limited to cover working capital requirements, with the guarantee to expire on May 31, 2004 and to be subject to the following terms and conditions:

i) the Province to maintain its existing security;

ii) payment of a 1% 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 interest.