OIC Number: 2002 - 481

Date of Order: Oct 24, 2002

Statute: Provincial Finance Act Industrial Development Act

OIC Text: The Governor in Council on the report and recommendation of the Minister of Finance and the Minister of the Office of Economic Development dated October 23, 2002, pursuant to

Section 59C of

Chapter 365 of the Revised Statutes of Nova Scotia, 1989, the Provincial Finance Act, and to

Section 3 of

Chapter 222 of the Revised Statutes, the Industrial Development Act, is pleased to: (

a) authorize the Minister of the Office of Economic Development to execute a guarantee on behalf of the Province for the benefit of a financial institution or other third party lender for the purpose of guaranteeing all amounts owing to such lender on account of loans made by such lender to the current investors of the Nova Scotia Government Fund Limited, such guarantee not to exceed $20,400,000.00 plus all BA and standby fees payable on account of such loans; and (

b) for the purposes of paragraph (a), authorize the Minister of the Office of Economic Development to execute and deliver all such other documents and to do all such other acts and things as may be necessary or desirable to give effect to this Order.

Department(s): Economic Development (Aug 1999 - Jan 2009) Finance