A-19 - Act to promote the development and modernization of regional dairies

Section 2 Disposition versions

1977-12-31

2. With the authorization of the Government and after having obtained the opinion of the Board, the Minister may:

(a)  guarantee, on behalf of the Government and upon the conditions which he determines, the repayment in whole or in part of the amount of the principal and interest of any loan made to promote the development or modernization of a factory and so ensure better service and prices to the producers of any one region;

(b)  undertake to pay, as a contribution to the amortization of the debt, during each of the five years following the day when the guarantee is granted, an amount equal to four per cent of the amount of the principal the repayment of which is guaranteed.

1966-67, c. 46, s. 2; 1969, c. 45, s. 64; 1969, c. 46, s. 1; 1977, c. 5, s. 14.