A-6 - Financial Administration Act

Full text
69.0.3. (Replaced).
1996, c. 22, s. 1; 2000, c. 15, s. 166.
69.0.3. The Minister may effect any transaction for the purposes of a plan established in accordance with this division. He may also, if it is authorized by the plan, enter into contracts for the payment of fixed-term annuities.
For the purposes of this division, the funds making up an annuity shall be regarded as the principal of a loan.
The funds making up fixed-term annuities are exempt from seizure in the hands of the Minister as though they were fixed-term annuities transacted by insurers, provided that a beneficiary in the event of death is designated in the manner set out in the provisions of the Civil Code concerning insurance.
1996, c. 22, s. 1.