Fisheries and Aquaculture Loan Board Regulations (N.S. Reg. 207/2018).

The Regulations establish that a loan may be for any purpose relating to the fishing industry in the Province, including any of the following: (a) purchasing or building a hull or boat; (b) purchasing and installing an engine or equipment in a boat; (c) purchasing a licence or quota; (d) converting, modifying or upgrading an existing boat; (e) refinancing or combining loans of a borrower; (f) developing or enhancing aquaculture facilities; (g) providing working capital for a business in the fishing industry; (h) purchasing seed stock, seed or spat for use in aquaculture; (i) any other purpose that is in accord with the object and purpose of the Board set out in Section 28 of the Act. (2) The Board must not make a loan guarantee for the purpose of replacing existing financing. (3) The Board may set policies and priorities for loans and loan guarantees. The Regulations lay down the discipline of applying, processing, interest rates, etc.