6.1. The Minister of Education, Recreation and Sports may, under such terms and conditions as he may determine, grant, on behalf of the Government, a subsidy for the purposes of investments approved under section 4 to any university establishment in order to provide, in whole or in part, out of the funds voted annually for such purposes by Parliament, for the payment in principal and interest of any loan contracted or to be contracted by the university establishment and for the payment of any costs or expenses relating to any such loan.
He may deposit in the hands of the Minister of Finance, to be managed by him, all amounts intended for the payment in principal and interest of the debentures issued by the university establishment, in order to constitute a sinking fund for the purposes of paying, out of such amounts, at the maturities under the terms of the loan, the principal of the debentures, and, out of the proceeds or revenue of the fund, the loans of any university establishment.
The second paragraph applies only to loans contracted before 1 April 1991.
1982, c. 58, s. 43; 1985, c. 21, s. 96; 1986, c. 75, s. 2; 1988, c. 41, s. 88; 1990, c. 66, s. 10; 1993, c. 51, s. 72; 1994, c. 16, s. 50; 2005, c. 28, s. 195.