Marginal note:Short title

1. This Act may be cited as the Fisheries Improvement Loans Act.

Marginal note:Definitions

2. In this Act,

“application”

Version anglaise seulement

“application” means an application for a guaranteed loan;

“borrower”

« emprunteur »

“borrower” means a fisherman to whom a guaranteed loan has been made;

“engine”

« machines »

“engine” means a steam or an internal combustion engine and includes the clutch, reduction gears, shaft, propeller, control and such accessories as properly form part of a mechanism for the propulsion of a fishing vessel;

“fish”

« poisson »

“fish” includes shellfish, crustaceans and all forms of aquatic life whether animal or vegetable;

“fisherman”

« pêcheur »

“fisherman” means

• (a) a person who has or intends to acquire a prescribed interest in a fishing vessel or a proprietory share in a fishing vessel, or

• (b) a person who has a prescribed interest in a weir, or similar fish catching or trapping device, that is affixed to the ground, or a proprietory share in such a weir or similar fish catching or trapping device,

and whose principal occupation is participation in a primary fishing enterprise;

“fishing equipment”

« matériel de pêche »

“fishing equipment” means equipment of a prescribed class or kind used in connection with a primary fishing enterprise but does not include a shore installation;

“fishing vessel”

« navire de pêche »

“fishing vessel” means any ship or boat or any other description of a vessel, for use in a primary fishing enterprise, that has an engine for its propulsion, and includes the equipment affixed thereto for use in the operation thereof but does not include prescribed electronic equipment;

“guaranteed loan”

« prêt garanti »

“guaranteed loan” means a loan made in accordance with the requirements of section 3;

“lender”

« prêteur »

“lender” means

• (a) a bank or an authorized foreign bank within the meaning of section 2 of the Bank Act,

• (b) a credit union, caisse populaire or other cooperative credit society that is designated by the Minister on the application of that society as a lender for the purposes of this Act, and

• (c) a corporation that carries on the business of a trust company within the meaning of the Trust Companies Act, the business of a loan company within the meaning of the Loan Companies Act or the business of insurance within the meaning of the Canadian and British Insurance Companies Act, and that is designated by the Minister on the application of that corporation as a lender for the purposes of this Act;

“Minister”

« ministre »

“Minister” means the Minister of Fisheries and Oceans;

“prescribed”

Version anglaise seulement

“prescribed” means prescribed by regulation;

“primary fishing enterprise”

« entreprise de pêche primaire »

“primary fishing enterprise” means an enterprise that is carried on for the purpose of catching or trapping fish for sale, and does not include the processing of fish except as prescribed;

“shore installation”

« installations au sol »

“shore installation” means structures, appliances or machinery affixed to the ground of a prescribed class or kind used in connection with a primary fishing enterprise, but does not include fishing equipment.