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Part II .

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Interest Rate Paid by Minister of Finance and Treasury Board Regulations

made under Sections 35 and 42 of the

Public Trustee Act

R.S.N.S. 1989, c. 379

O.I.C. 2012-89 (March 27, 2012), N.S. Reg. 73/2012

Citation

1 These regulations may be cited as the Interest Rate Paid by Minister of Finance and Treasury Board

Regulations .

Definition

2 In these regulations, “Act” means the Public Trustee Act ;

Interest rate

(1) The interest rate on money paid by the Minister of Finance and Treasury Board under

Section 35 of the

Act is the Royal Bank of Canada’s prime rate less 2% per year.

(2) Interest paid under

Section 35 of the Act is paid on the principal amount from the

date the money was received from the Public Trustee by the Minister of Finance and Treasury Board to

the date of payment.

[Note: The references to the Minister of Finance have been updated in accordance with Order in Council 2013-348 under the Public Service Act , R.S.N.S. 1989, c. 376, effective October 22, 2013.]