NEWFOUNDLAND AND LABRADOR REGULATION NLR 30/25 ST. JOHN’S, WEDNESDAY, MARCH 12, 2025 The Newfoundland and Labrador Gazette Extraordinary

PART II PUBLISHED BY AUTHORITY

NEWFOUNDLAND AND LABRADOR REGULATION 30/25 Credit Union Regulations, 2009 (Amendment) under the Credit Union Act, 2009 (Filed March 12, 2025) Under the authority of

section 193 of the Credit Union Act, 2009, I make the following regulations. Dated at St. John’s, March 10, 2025. Elvis Loveless Minister of Digital Government and Service Newfoundland and Labrador REGULATIONS Analysis 1. S.16 Amdt. Commercial lending 1. Subsection 16(4) of the Credit Union Regulations, 2009 is repealed and the following substituted:

(4) Notwithstanding subsection (1), a credit union may, with the approval of the guarantee corporation, make a commercial loan to a NLR 56/09 as amended 3 Extraordinary Gazette March 12, 2025

Credit Union Regulations, 2009 (Amendment) 30/25 member in excess of $25,000 that is not fully secured by cash and assigned to the benefit of the credit union where the loan is made under a commercial loan program (

a) developed by the government of the province or the government of Canada; and (

b) that, in the opinion of the minister, is meant to alleviate financial hardship on businesses. ©King's Printer 4 Extraordinary Gazette March 12, 2025

Extraordinary Gazette Index Title of Act and Subordinate Legislation made thereunder CNLR or NL Reg. Amendment NL Gazette Date & Page No. Credit Union Act, 2009 Credit Union Regulations, 2009 (Amendment) NLR 30/25 Amends NLR 56/09 S.16 Amdt. Mar. 12/25 p. 3 ST. JOHN’S, WEDNESDAY, MARCH 12, 2025 5