Teslin Exploration Limited Order

Order Authorizing the Minister of Indian Affairs and Northern Development to Consent to the Transfer of Certain Territorial Coal Licences and to Postpone the Repayment of Amounts Payable Under the Northern Mineral Exploration Assistance Regulations His Excellency the Administrator in Council, on the recommendation of the Minister of Indian Affairs and Northern Development, pursuant to Vote No. 7a of Appropriation Act No. 9, 1966, is pleased hereby to make the annexed Order authorizing the Minister of Indian Affairs and Northern Development to consent to the transfer of certain Territorial Coal Licences and to postpone the repayment of amounts payable under the Northern Mineral Exploration assistance regulations. This Order may be cited as the Teslin Exploration Limited Order. In this Order, Minister means the Minister of Indian Affairs and Northern Development; (Ministre) Regulations means the Northern Mineral Exploration Assistance Regulations. (règlement) Notwithstanding paragraph 11(c) of the Regulations, the Minister may consent to the transfer by Teslin Exploration Limited of Territorial Coal Licences numbered 10, 11 and 12 to Vittorio Ghitti. Notwithstanding paragraph 11(e) of the Regulations, and subject to section 5 of this Order, the obligation to repay to Her Majesty in right of Canada the balance of the grant paid to Teslin Exploration Limited pursuant to the Regulations together with simple interest thereon at the rate of 10 per cent per annum is postponed until the disposition of Territorial Coal Licences numbered 10, 11, 12, 15, 16 and 17. Teslin Exploration Limited shall give a written undertaking to repay to Her Majesty in right of Canada the balance of the grant owing under the Regulations together with simple interest thereon at the rate of 10 per cent per annum out of any of Territorial Coal Licences numbered 10, 11, 12, 15, 16 and 17.