Marginal note:Limitations on agreements under Department of Regional Economic Expansion Act
14. Where, in the opinion of the Minister, a development incentive could be provided under this Act in respect of an undertaking referred to in subsection 10(1) of the Special Areas Act, notwithstanding anything in section 10 of that Act,
(a) an agreement providing for a guarantee described in paragraph 10(1)(a) of that Act may be entered into only if, in the opinion of the Minister, the approved capital costs of the undertaking would exceed
(i) $75,000 for each job that the Minister estimates would be created directly in the undertaking, or
(ii) $30,000,000; and
(b) no agreement providing for a payment described in paragraph 10(1)(b) or (c) of that Act may be entered into in respect of the undertaking.
- R.S., 1970, c. R-3, s. 14;
- 1980-81-82-83, c. 167, s. 34.
15. The Governor in Council may make regulations
(a) defining for the purposes of this Act the expressions "manufacturing or processing operation", "initial processing operation", "resource-based industry" and "commercial operation";
(b) prescribing, for any designated region or for any class of manufacturing or processing operation, an amount less than the maximum amount of a development incentive provided for by this Act, which lesser amount shall, in relation to that region or any manufacturing or processing operation of that class, be deemed to be the maximum amount provided for by this Act;
(b.1) prescribing any one or more development incentives that may not be authorized by the Minister in respect of facilities within a designated region or regions prescribed for the purposes of this paragraph;
(c) prescribing classes of fixed assets the value of which may be included in the capital to be employed in the operation or in the total capital costs of a facility or commercial facility;
(d) respecting the determination of
(i) the working capital required for the purposes of any class of operation, and
(ii) the capitalized expenses incurred in bringing a new facility or commercial facility into commercial production or operation or in bringing an expanded or modernized facility into commercial production;
(e) for determining whether a product is a product not previously manufactured or processed in an operation;
(f) respecting the determination of the amount or present value of any federal, provincial or municipal assistance given or to be given in respect of a facility or commercial facility;
(f.1) prescribing terms and conditions on which a guarantee by Her Majesty in right of Canada may be authorized pursuant to section 13.1, including terms and conditions relating to the payment to Her Majesty by any lender of a guarantee fee;
(f.2) prescribing the maximum proportion of any loan the repayment of which and the payment of interest on which may be guaranteed pursuant to section 13.1;
(f.3) prescribing the nature and extent of the insurance to be maintained in force on any facility in respect of which a development incentive is authorized or on any facility or commercial facility in respect of which a loan guarantee is authorized under this Act and the times at which evidence of such insurance shall be provided to the Minister;
(g) respecting the determination of any matter that under this Act is to be determined by the Minister;
(h) respecting any other matter or thing that under this Act is to be prescribed by the regulations; and
(i) generally for carrying into effect the purposes and provisions of this Act.
- R.S., 1970, c. R-3, s. 15;
- R.S., 1970, c. 25(2nd Supp.), s. 8.
- Date modified: