F-1.2 - Act respecting farm financing

Section 78 Disposition versions

1988-08-11

78. The Office shall contribute to the payment of the interest on a loan or a special loan obtained from a lender in the cases, to the extent, for the term and according to the terms and conditions and dates of payment prescribed by regulation.

Similarly, the Office may reduce the interest rate on loans or special loans it has granted.

In the case of a loan obtained or assumed for the purposes of an establishment, the contribution to the payment of interest or the reduction of the interest rate shall be granted to

(1)  a natural person who, on the date prescribed by regulation, is 18 years of age or over and is not yet 40 years of age;

(2)  a group operation having one or several natural persons among its shareholders, partners or members, as the case may be, who, in order to render it eligible for the contribution or reduction must fulfill the conditions prescribed by regulation and, on the date fixed by regulation, be 18 years of age or over but not yet 40 years of age.

1987, c. 86, s. 78.