Consolidated Computer Inc. Regulations (SOR/81-693)

Regulations are current to 2013-04-29

Consolidated Computer Inc. Regulations

SOR/81-693

APPROPRIATION ACTS

APPROPRIATION ACT NO. 1, 1980-81

APPROPRIATION ACT NO. 2, 1981-82

Registration 1981-09-04

Regulations Respecting Loans and the Insurance of Loans Made to Consolidated Computer Inc., Financeco Limited or Finecomp Inc.

P.C. 1981-2375 1981-09-03

His Excellency the Governor General in Council, on the recommendation of the Minister of Industry, Trade and Commerce and the Treasury Board, pursuant to Industry, Trade and Commerce Vote 1a of Appropriation Act No. 1, 1980-81 and Industry, Trade and Commerce Vote L35 of Appropriation Act No. 2, 1981-82, is pleased hereby to make the annexed Regulations respecting loans and the insurance of loans made to Consolidated Computer Inc., Financeco Limited or Finecomp Inc.

SHORT TITLE

1. These Regulations may be cited as the Consolidated Computer Inc. Regulations.

INTERPRETATION

2. In these Regulations,

“Consolidated Computer Inc.”

“Consolidated Computer Inc.” means a company incorporated under the laws of the Province of Ontario and having its head office in the Regional Municipality of Ottawa-Carleton in that Province; (Consolidated Computer Inc.)

“Financeco Limited”

“Financeco Limited” means a company incorporated under the laws of the Province of Ontario and having its head office in the City of Toronto in that Province; (Financeco Limited)

“Finecomp Inc.”

“Finecomp Inc.” means a company incorporated under the laws of the State of Delaware and having its head office in the City of Wilmington in that State; (Finecomp Inc.)

“Minister”

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

“private lender”

“private lender” means any lender approved by the Minister other than

  • (a) the Government of Canada,

  • (b) the government of any province of Canada,

  • (c) an agency of any government referred to in paragraph (a) or (b) or any company that, in the opinion of the Minister, is effectively controlled by any such government or any agency thereof, or

  • (d) any municipal corporation. (prêteur privé)

LOANS

3. Subject to subsection 12(1), the Minister may, under Industry, Trade and Commerce Vote L35 of Appropriation Act No. 2, 1981-82, make loans to Consolidated Computer Inc.

4. Where Consolidated Computer Inc. requires a loan that may be made pursuant to section 3, it shall make application therefor to the Minister and shall provide such information relating to the application as the Minister may require.

INTEREST

5. The rate of interest for any loan made pursuant to section 3 shall be determined by the Minister as of the date the application is approved by him and shall be at a rate not less than the rate of interest in effect on that date in respect of loans of a similar term made by the Government of Canada to Crown corporations.

TERM OF LOAN AND REPAYMENT

  • 6. (1) A loan made pursuant to section 3 shall be for such term as may be fixed by the Minister.

  • (2) The whole or any part of a loan made pursuant to section 3 may, in such manner as may be prescribed by the Minister, be repaid in advance of the due date of repayment without notice, bonus or penalty.