14 (1) Where, in the opinion of the Board, a manufacturer or a person who is about to engage in a manufacturing or processing activity in Canada
(a) requires a loan in order to
(i) take advantage of a new opportunity for the production of goods in Canada which will face significant international trade competition, or
(ii) restructure his operations in a manner that will significantly improve his position in meeting international trade competition, and
[...]
(3) Where, in the opinion of the Board, a person engaged or about to engage in a business in Canada to provide services directly or indirectly to manufacturers in Canada
(a) requires a loan to establish or restructure operations in order to significantly improve the ability of manufacturers in Canada in meeting international trade competition, and
(2) In carrying out its duties and functions, the Board shall use the existing staff and facilities of the Department of Industry, Trade and Commerce and, to the extent deemed necessary by the Board, may use such other services of the Government of Canada as are available.
(3) The Board may authorize the formation of a subcommittee to be known as the Executive Committee, consisting of three members of the Board, one of whom shall be the Chairman or the Vice-Chairman of the Board, one of whom shall be the member of the Board designated by the Minister of Industry, Trade and Commerce and one of whom shall be the member of the Board designated by the Minister of Finance.
3 (1) A committee is hereby established to be known as the General Adjustment Assistance Board consisting of
(b) four members who are members of the Public Service within the meaning of the Public Service Employment Act, one member to be designated by each of the Ministers of Industry, Trade and Commerce, Finance, Employment and Immigration and Regional Economic Expansion, from a senior position within his Department.
(4) Each of the Ministers of Industry, Trade and Commerce, Finance, Employment and Immigration and Regional Economic Expansion shall designate one person holding a senior position in his Department to exercise all powers, duties and functions of the member designated by him pursuant to paragraph (1)(b) in the event of the absence or temporary inability to act of such member.
8 The Board shall keep such records and books and make such reports on its activities from time to time as the Minister of Industry, Trade and Commerce may require.
2 In these Regulations,
letter of credit means a letter, document or other instrument issued by a private lender prior to January 1, 1978 to secure or guarantee the financial aspects of a trade transaction; (lettre de crédit)
