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Consolidated Computer Inc. Enterprise Development Regulations (C.R.C., c. 968)

Regulations are current to 2020-09-09

Consolidated Computer Inc. Enterprise Development Regulations

C.R.C., c. 968

DEPARTMENT OF INDUSTRY ACT

APPROPRIATION ACTS

APPROPRIATION ACT NO. 2, 1977

Regulations Respecting Enterprise Development Program Assistance to Consolidated Computer Inc.

Short Title

 These Regulations may be cited as the Consolidated Computer Inc. Enterprise Development Regulations.

Interpretation

 In these Regulations, all words and expressions have the same meaning as in the Enterprise Development Regulations.

Special Loans

  •  (1) Notwithstanding subsection 35(1) of the Enterprise Development Regulations, the Board may, under section 28 of those Regulations, provide insurance in an amount not exceeding 99 per cent of the amount of loans, not exceeding $30 million in the aggregate, made by private lenders for the purpose of facilitating the leasing of computer products manufactured by Consolidated Computer Inc., a corporation incorporated under the laws of the Province of Ontario and having its head office in the City of Toronto in that Province.

  • (2) Notwithstanding section 38 of the Enterprise Development Regulations, where a private lender has demanded repayment of a loan described in subsection (1) of these Regulations in respect of which insurance has been provided under section 28 of the Enterprise Development Regulations, prior to the maturity of that loan, the amount payable by Her Majesty to the private lender shall not exceed the lesser of

    • (a) the amount of insurance in effect on the date of such demand; and

    • (b) 99 per cent of the loss incurred by the private lender.

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