Acts and Regulations

2011-40 - General

Table of contents
Full text
NEW BRUNSWICK
REGULATION 2011-40
under the
Invest New Brunswick Act
(O.C. 2011-231)
Filed July 21, 2011
Under section 35 of the Invest New Brunswick Act, the Lieutenant-Governor in Council makes the following Regulation:
Citation
1This Regulation may be cited as the General Regulation - Invest New Brunswick Act.
Definition of “Act”
2In this Regulation, “Act” means the Invest New Brunswick Act.
Application for financial assistance
3For the purposes of subsection 23(1) of the Act, an application for financial assistance must be in writing and must set forth
(a) the financial assistance requested,
(b) the purpose for which the financial assistance is requested, and
(c) the financial situation of the applicant.
Prescribed amount
4For the purposes of subsection 24(1) of the Act, the amount prescribed is $2,000,000.
Interest
5(1)Invest NB may charge interest at the rate it determines on any loan provided under the Act.
5(2)The rate of interest may be fixed or variable and may be adjusted by Invest NB in accordance with the terms of the loan.