Pêcheurs Unis du Québec Regulations (SOR/83-549)

Short Title

1 These Regulations may be cited as the Pêcheurs Unis du Québec Regulations.

Interpretation

2 In these Regulations,

Minister

Minister means the Minister of Industry, Trade and Commerce; (ministre)

Pêcheurs Unis du Québec

Pêcheurs Unis du Québec means a co-operative incorporated under the laws of the Province of Quebec and having its business office in the city of Montreal, Quebec; (Pêcheurs Unis du Québec)

private lender

private lender means any lender approved by the Minister, other than

• (a) the Government of Canada,

• (b) the government of any province,

• (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)

Insurance

3 Subject to sections 4 and 5, where a private lender makes a loan to Pêcheurs Unis du Québec for the purposes of

• (a) promoting the growth, efficiency or international competitiveness of Pêcheurs Unis du Québec; and

• (b) fostering the expansion of Canadian trade by Pêcheurs Unis du Québec,

the Minister may, under Industry, Trade and Commerce Vote 1a of Appropriation Act No. 1, 1980-81, as extended by Industry, Trade and Commerce Vote 1e of Appropriation Act No. 4, 1981-82, provide, with the approval of Treasury Board, insurance in an amount that does not exceed $5.0 million.

Application for Insurance

4 A 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 the Minister may require.

Payment of Insurance

5 Where 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.