C-77.1 - Aquaculture Credit Act

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24. A borrower ceases to be entitled to the contribution or reduction contemplated in section 22 and forfeits his right to receive any deferred payment of the contribution or reduction in respect of a loan if
(1)  he benefits by the contribution or reduction as a result of false declarations or false pretences, or
(2)  he uses the proceeds or part of the proceeds of the loan for purposes other than those for which the loan was obtained.
1984, c. 21, s. 24.