28. The Fund may, without restriction, acquire and hold hypothecs upon real estate in Québec if payment of the capital and interest is insured by the Government of Canada or of Québec.
The acquisition of other hypothecs shall be subject to the following restrictions:
(a) the aggregate of the hypothecs shall not exceed 75% of the value of the immoveables which secure the payment thereof;
(b) the amount of each hypothec on an immoveable constituting a single undertaking shall not exceed 1/2% of the total assets of the Fund; and
(c) the Fund’s total investment in hypothecs contemplated in this paragraph and in immoveable property shall not exceed 10% of its total assets.
1965 (1st sess.), c. 23, s. 25; 1969, c. 27, s. 8.