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Fisheries Loans Act

R.S.O. 1990, CHAPTER F.19

Consolidation Period: From December 31, 1990 to the e-Laws currency date.

No amendments.

Preamble

Whereas by reason of the contamination of fish resulting from the pollution of waters in Ontario it has and may become necessary to prohibit the taking of fish in waters in Ontario; and whereas the prohibition of the taking of fish has created and may create temporary financial hardships to persons engaged in commercial fishing and other businesses dependent in whole or in part on the taking of fish;

Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Definition

1.  In this Act,

“Minister” means the Minister of Natural Resources. R.S.O. 1990, c. F.19, s. 1.

Loans

2.  (1)  The Minister on behalf of Her Majesty in right of Ontario may make loans with or without interest in such amounts and upon such terms and conditions as he or she considers appropriate to a person carrying on the business of commercial fishing or any other business dependent in whole or in part on the taking of fish from waters in which such taking has been prohibited by reason of the contamination of fish resulting from pollution of the waters. R.S.O. 1990, c. F.19, s. 2 (1).

Minister to table report

(2)  Where the Minister takes any action under this section, he or she shall, quarterly or at the first appropriate time when the Assembly is sitting, table a report in connection with such action and set out clearly in such a report the basis of the terms and conditions the Minister considers appropriate in taking any such action. R.S.O. 1990, c. F.19, s. 2 (2).

Agreements

3.  The Minister may on behalf of the Province of Ontario enter into agreements with the Government of Canada in respect of the payment to the Province of Ontario of a share of the principal and other cost of loans made under section 2 and matters related to such loans on such terms and conditions as may be agreed upon. R.S.O. 1990, c. F.19, s. 3.

Funds

4.  The money required for the purposes of section 2 shall be paid out of the Consolidated Revenue Fund. R.S.O. 1990, c. F.19, s. 4.

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