Canadian Industrial Renewal Regulations

The Canadian Industrial Renewal Regulations, SOR/81-850, were established on October 15, 1981, by the Department of Industry Act and Vote 1a (Industry, Trade and Commerce) of Appropriation Act No. 1, 1980-81. The regulations aim to provide assistance to businesses in Canada through loans, insurance, and contributions.

These Regulations define key terms such as "application," "business enterprise," "contribution," "designated community," "eligible manufacturer," and "manufacturing or processing activity." They also outline the role of the Minister in administering these programs.

The regulations allow for loans to be made to eligible manufacturers or designated businesses, with a maximum amount not exceeding 50% of the private lender's loan. The Minister may make loans to protect the Crown's interest in cases where a business has previously obtained assistance under these Regulations.

Insurance can be provided on loans to businesses that require restructuring to improve their position in international trade competition or those that are subject to financial difficulties threatening the cessation of significant operations and employee layoffs. Insurance is also available for services providers directly or indirectly serving businesses engaged in international trade competition.

The Minister has discretion in granting loans and insurance, requiring information and documentation from applicants, and stipulating conditions for assistance. The regulations also outline security requirements and interest rates for loans.