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APPROPRIATION ACT NO. 1, 1980-81APPROPRIATION ACTSSt. Anthony Fisheries Limited RegulationsRegulations Respecting the Insurance of Loans Made to St. Anthony Fisheries LimitedP.C.1982-177319826

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His Excellency the Governor General in Council, on the recommendation of the Minister of Industry, Trade and Commerce and the Treasury Board, pursuant to Industry, Trade and Commerce Vote 1a of Appropriation Act No. 1, 1980-81, is pleased hereby to make the annexed Regulations respecting the insurance of loans made to St. Anthony Fisheries Limited.Short Title

1These Regulations may be cited as the St. Anthony Fisheries Limited Regulations.

Interpretation

2In these Regulations,Minister means the Minister of Industry, Trade and Commerce; (ministre)private lender means any lender approved by the Minister other than(a)the Government of Canada,(b)the government of any province of Canada,(c)an agency of any government referred to in paragraph (a) or (b) or any company that, in the opinion of the Minister, is effectively controlled by any such government or any agency thereof, or(d)any municipal corporation; (prêteur privé)St. Anthony Fisheries Limited means a company that is incorporated under the laws of the Province of Newfoundland and has its head office in the City of St. John’s in that Province. (St. Anthony Fisheries Limited)

Insurance

3Subject to section 6, the Minister may, under Industry, Trade and Commerce Vote 1a of Appropriation Act No. 1, 1980-81, provide insurance for the full amount of any loss that may result in respect of any loan made by a private lender to St. Anthony Fisheries Limited.

Application for Insurance

4A private lender who wishes the Minister to provide insurance referred to in section 3 shall make application therefor to the Minister and shall provide the Minister with such information and documents relating to the application as he may require.

Payment of Insurance

5Where a private lender demands repayment of a loan referred to in section 3 in respect of which insurance has been provided by the Minister pursuant to that section, the amount of such insurance payable to the private lender shall not exceed the amount of insurance in effect on the date of such demand.

Maximum Amount of Insurance

6The aggregate amount of insurance that may be provided by the Minister pursuant to section 3 in respect of any loan made by a private lender to St. Anthony Fisheries Limited shall not exceed $10 million at any time without the approval of the Treasury Board.