OIC Number: 2000 - 632

Date of Order: Dec 14, 2000

Statute: Sydney Steel Corporation Act

OIC Text: The Governor in Council on the report and recommendation of the Acting Minister responsible for Sydney Steel Corporation dated December 7, 2000, pursuant to

Chapter 456 of the Revised Statutes of Nova Scotia, 1989, the Sydney Steel Corporation Act,

Chapter 33 of the Acts of 2000, the Sydney Steel Corporation Sale Act,

Chapter 235 of the said Revised Statutes, the

Interpretation Act, and all other power and authority in her vested is pleased to: (

a) authorize the transfer of the Purchased Assets to the Purchaser, as each of those terms is defined in and in accordance with the terms of an Agreement of Purchase and Sale of Assets, dated June 21, 2000, among Sydney Steel Corporation, Duferco Steel (Nova Scotia) Corporation, Duferco Participations Holding Limited and Her Majesty the Queen in right of the Province of Nova Scotia, as amended, the matters and transactions therein referenced and related and ancillary matters and transactions being hereinafter collectively referred to as the "Transactions"; (

b) order that all actions of members of the Executive Council, acting individually or collectively (hereinafter the "Ministers") and officials and employees of the Province of Nova Scotia (hereinafter the "Provincial Officials") with respect to the transactions are hereby confirmed, ratified, approved and adopted; (

c) order that all documentation in respect of the Transactions executed by Ministers or Provincial Officials, including without limitation the Agreement of Purchase and Sale, be and is hereby confirmed, ratified, approved and adopted; (

d) order that Ministers and Provincial Officials be and are hereby authorized to enter into such documentation in respect of the Transactions as any of them may approve, together with such other documentation as may be referred to therein or may be required to consummate the transactions herein or therein referred to, and the approval of such Ministers or Provincial Officials shall be conclusively evidenced by their execution of the relevant documents; and (

e) order that, without limiting the generality of the foregoing, Ministers and Provincial Officials be and are hereby authorized, empowered and directed to fix and determine the form and content of and to execute and deliver for and on behalf of the Province of Nova Scotia, under seal or otherwise, such documents, instruments, agreements and certificates (including without limitation the documentation referred to in the preceding paragraphs hereof) as are determined by them to be required, and to do all such other things which they may consider necessary or desirable from time to time in order to give effect to the foregoing, and the approval of such Ministers and Provincial Officials of any document, instrument, agreement or certificate shall be conclusively evidenced by their execution thereof.

Department(s): Sysco