1. These Regulations may be cited as the Shipbuilding Temporary Assistance Program Regulations.

2. In these Regulations,

“approved cost”

“approved cost” of an eligible ship, means the cost of the eligible ship determined by the Minister pursuant to subsection 6(3); (coût approuvé)

“completed”

“completed”, in relation to an eligible ship, means that a certificate of registry has been issued for the ship; (terminé)

“contract”

“contract” means an agreement in writing between a shipbuilder and a shipowner for the construction of one or more vessels that provides for the deposit of at least five per cent of the contract price or at least five per cent of the price of the first vessel in the case where more than one vessel is included in the contract; (contrat)

“contract date”

“contract date” means the later of

• (a) the date on which a contract is signed by both parties, and

• (b) the date on which a deposit is paid by a shipowner to a shipbuilder; (date du contrat)

“contract price”

“contract price” means the amount payable by a shipowner to a shipbuilder under the terms of a contract; (prix contractuel)

“eligible ship”

“eligible ship” means a vessel that is declared by the Minister, pursuant to subsection 4(3) to be an eligible ship for the purposes of these Regulations; (navire admissible)

“gross tonnage”

“gross tonnage” has the same meaning as in the Canada Shipping Act; (jauge brute)

“maximum approved cost”

“maximum approved cost” of an eligible ship means the maximum amount determined by the Minister pursuant to subsection 6(5); (coût maximum approuvé)

“Minister”

“Minister” means the Minister of Industry, Trade and Commerce; (ministre)

“proceeds of disposition”

“proceeds of disposition” has the meaning assigned to that phrase in paragraph 13(21)(d) of the Income Tax Act; (produit d'une disposition)

“shipbuilder”

“shipbuilder” means a citizen of Canada or a company incorporated in Canada that is engaged in Canada in the business of building ships in Canada; (constructeur de navires)

“shipbuilding grant”

“shipbuilding grant” means the amount payable to a shipbuilder in respect of an eligible ship pursuant to these Regulations; (aide à la construction de navires)

“vessel”

“vessel” means any commercial or scientific vessel that is

• (a) of at least

  • (i) 100 tons gross tonnage if self-propelled,

  • (ii) 200 tons gross tonnage if not self-propelled,

  • (iii) 50 tons gross tonnage if a tug,

  • (iv) two tons gross tonnage if a submersible capable of operating at depths of at least 1,000 feet, or

• (b) over 75 feet in overall length if a fishing vessel. (navire)