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E-14 - Act respecting the establishment of a steel complex by Sidbec

Section 14
Disposition versions

Full text
14. The Government may, upon such conditions as it determines:
(a)  guarantee the payment in capital and interest of any borrowing contracted by the company;
(b)  authorize the Minister of Finance to lend to the company any amount considered necessary to continue its operations or to perform its obligations;
(c)  guarantee the payment of the sums of money payable by the company as a result of the non-performance of its obligations under one or more contracts regarding the acquisition, construction, operation and financing of a mining industrial complex in the area of Fire Lake, Lac Jeannine, Gagnon and Port Cartier, including any contract for the purchase of the products of such complex.
The sums which the Government may be called upon to pay to the company under such guarantees or loans shall be taken out of the consolidated revenue fund.
1970, c. 20, s. 3; 1974, c. 74, s. 4; 1976, c. 31, s. 6; 1977, c. 5, s. 14; 1988, c. 70, s. 5.
14. The Government may, upon such conditions as it determines:
(a)  guarantee the payment in capital and interest of any borrowing contracted by the company;
(b)  authorize the Minister of Finance to lend to the company, for a term not exceeding two years in each case, any amount considered necessary to continue its operations or to perform its obligations;
(c)  guarantee the payment of the sums of money payable by the company as a result of the non-performance of its obligations under one or more contracts regarding the acquisition, construction, operation and financing of a mining industrial complex in the area of Fire Lake, Lac Jeannine, Gagnon and Port Cartier, including any contract for the purchase of the products of such complex.
The sums which the Government may be called upon to pay to the company under such guarantees or loans shall be taken out of the consolidated revenue fund.
1970, c. 20, s. 3; 1974, c. 74, s. 4; 1976, c. 31, s. 6; 1977, c. 5, s. 14.
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