E-12.1 - Act to promote the establishment of young farmers

Section 9 Disposition versions

1982-09-01

9. In the case of a grant made under the Farm Credit Act (chapter C-75), the net interest for the purposes of this Act is the interest that the debtor of the loan would have to pay on the first $50 000 contemplated in section 3 before default interest.

In the case of a loan granted under the Act to promote long term farm credit by private institutions (chapter C-75.1) or the Farm Credit Act (Revised Statutes of Canada, 1970, chapter F-2), net interest is the interest that the debtor of the loan would have to pay on the first $50 000 contemplated in section 3 before default interest, after deduction of the contribution toward payment of the interest payable by the Bureau under the Act to promote long term farm credit by private institutions or, as the case may be, the Farm Loan Act (chapter P-20), in respect of such first $50 000.

1982, c. 29, s. 9.