Orders in Council Database

Under the authority of the Loan and Guarantee Act, 1957, the Lieutenant Governor in Council hereby authorizes the Minister of Finance to extend the loan guarantee on behalf of the Newfoundland Symphony Orchestra Association in the amount of $50,000 to expire on March 31, 2005, with the guarantee to be subject to the following terms and conditions:

  i)  An annual guarantee fee of $1,000;

 ii)  The Association=s annual budget must have the approval of the Department of Finance;

iii)  Quarterly interim financial statements must be provided to the Department of Finance within thirty days after each applicable quarter and year end audited financial statements must be provided within 120 days after the Association=s year end; and,

 iv)  Such other terms and conditions as are deemed necessary by the Departments of Finance and Justice.