OIC Number: 2001 - 590 B

Date of Order: Dec 17, 2001

Statute: Financial Measures

(2000) Act Provincial Finance Act

OIC Text: The Governor in Council on the report and recommendation of the Minister responsible for Nova Scotia Resources Limited dated December 13, 2001, and pursuant to

Section 72 of

Chapter 4 of the Acts of 2000, the Financial Measures

(2000) Act, and to

Section 59 of

Chapter 365 of the Revised Statutes of Nova Scotia, 1989, the Provincial Finance Act, is pleased to: (

a) order that the Minister of Finance be and is hereby authorized, in his discretion, to provide Pengrowth Corporation an indemnity with respect to any liability arising from the Province's involvement in the development of the Maritimes and Northeast Pipelines on such terms and conditions as he deems necessary; and (

b) order that, without limiting the generality of the foregoing, the Minister of Finance be and is 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 the indemnity referred to in the preceding paragraph hereof), as are determined by him to be required, and to do all such other things which he may consider necessary or desirable from time to time in order to give effect to the foregoing, and the approval of the Minister of Finance of any document, instrument, agreement or certificate shall be conclusively evidenced by his execution thereof.

Department(s): Finance