Baie Verte Mines Inc. Regulations, 1985 (SOR/86-262)

5 No loans made by a private lender to Baie Verte Mines Inc. may be insured under these Regulations unless

• (a) the loan is for revolving credit advances for working capital purposes not exceeding four million dollars; and

• (b) the loan is secured by the inventory or accounts receivable or both the inventory and accounts receivable of Baie Verte Mines Inc.