A-6.001 - Financial Administration Act

Full text
64. The Minister may, by order, create a sinking fund to provide for the repayment of any borrowing effected under this division. The Minister shall determine the terms of repayment whenever they are not otherwise provided for.
With the authorization of the Government, the Minister may take out of the Consolidated Revenue Fund any money the Minister pays into a sinking fund.
Whenever a borrowing for which a sinking fund has been created is redeemed before maturity or renewed or paid off at maturity, the Minister may, by order, transfer that sinking fund or any part of it and apply it to another borrowing effected under this division, or pay the money making up that sinking fund into any other sinking fund already created for such a borrowing.
An order made under this section takes effect on the date on which it is made, or on any later date specified in the order. An order made under the third paragraph is published in the Gazette officielle du Québec.
2000, c. 15, s. 64; 2011, c. 18, s. 25.
64. The Government may authorize the Minister to withdraw from the consolidated revenue fund any money up to the amount required to create an adequate sinking fund to provide for the repayment of any borrowing effected under this division.
Whenever a borrowing for which a sinking fund has been created is redeemed before maturity or renewed or paid off at maturity, the Government may authorize the Minister to transfer such sinking fund or any part thereof and apply it to another borrowing effected or to be effected, in whole or in part, for the purpose of redeeming before maturity or renewing or paying off at maturity the borrowing for which such sinking fund was created, or funding any temporary borrowings effected for the purpose of such redemption, renewal or payment, or funding any renewal of such temporary loans.
The management of the money making up such sinking funds and the revenues derived therefrom shall be entrusted to the Minister.
2000, c. 15, s. 64.