Orders in Council Database

Under the authority of section 3 of the Loan and Guarantee Act, 1957, the Lieutenant Governor in Council is pleased to authorize the Minister of Finance to accept the revised exit strategy proposed by Torngat Fish Producers Co-operative Society Limited and to renew the loan guarantee on its behalf on the following basis:
a) June 1, 2013 to May 31, 2014 - $1,600,000,
b) June 1, 2014 to May 31, 2015 - $1,100,000,
c) June 1, 2015 to May 31, 2016 - $600,000, and
d) June 1, 2016 & onward – Nil,
subject to:
e) the Province maintaining its existing security,
f) the payment of an annual 1% guarantee fee, and
g) such other terms and conditions as the Department of Finance, the Department of Justice, and the Department of Fisheries and Aquaculture deem necessary to secure the Province’s interests.