BILL NO. 257
(as passed, with amendments)
1st Session, 59th General Assembly
54 Elizabeth II, 2005
Fisheries and Coastal Resources Act
CHAPTER 50 OF THE ACTS OF 2005
The Honourable Chris A. d'Entremont
Minister of Agriculture and Fisheries
First Reading: October 20, 2005 (LINK TO BILL AS INTRODUCED)
Second Reading: October 24, 2005
Third Reading: November 3, 2005 (WITH COMMITTEE AMENDMENTS)
Royal Assent: December 8, 2005
Be it enacted by the Governor and Assembly as follows:
1 Section 38 of Chapter 25 of the Acts of 1996, the Fisheries and Coastal Resources Act, is amended by striking out "of an amount of five hundred thousand dollars or more" in the second line and substituting "in excess of the amount prescribed by regulation".
(3) Where the fisher defaults on the loan, the core fishing package may be sold by the Board or institution, as the case may be, in the usual manner upon default but at no less than the outstanding debt to the Board or institution, respectively, including all costs.
(2) The report referred to in subsection (1) must be completed no later than July 1, 2006, and must be tabled by the Minister in the House of Assembly if the House is then sitting or, if the House is not then sitting, filed with the Clerk of the House.
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