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Interest Rate Paid by Minister of Finance and Treasury Board Regulations
made under Sections 35 and 42 of the
Public Trustee Act
R.S.N.S. 1989, c. 379
O.I.C. 2012-89 (March 27, 2012), N.S. Reg. 73/2012
1 These regulations may be cited as the Interest Rate Paid by Minister of Finance and Treasury Board Regulations.
2 In these regulations, “Act” means the Public Trustee Act;
3 (1) The interest rate on money paid by the Minister of Finance and Treasury Board under Section 35 of the Act is the Royal Bank of Canada’s prime rate less 2% per year.
(2) Interest paid under Section 35 of the Act is paid on the principal amount from the date the money was received from the Public Trustee by the Minister of Finance and Treasury Board to the date of payment.
[Note: The references to the Minister of Finance have been updated in accordance with Order in Council 2013-348 under the Public Service Act, R.S.N.S. 1989, c. 376, effective October 22, 2013.]