The objective of this Act is to foster the creation, maintenance and development of cooperatives and non-profit legal persons by granting financial or technical assistance that fosters greater participation by the population in economic activities, the economic development and the creation of jobs in the regions. The Government may establish any program of financial or technical assistance for the purposes of this Act, and determine the conditions, cases and limits of application thereof and the fees payable. Financial assistance may be in any of the following forms: (1) a guarantee of repayment of all or a part of a financial commitment; (2) a guarantee of total or partial redemption of preferred shares; (3) an assumption of liability for part or the whole of the interest on loans or on preferred shares; (4) a loan, with or without interest; (5) a partial exemption from repayment of a loan; (6) an acquisition of preferred shares;
Canada · 1991-01-01