C-75.1 - Act to promote long term farm credit by private institutions

Section 25 Disposition versions

1978-08-01

25. Any borrower who benefits by the contribution to the payment of interest contemplated in section 24 pursuant to false declarations or false pretences or who uses the proceeds or part of the proceeds for purposes other than those for which the loan was obtained is deprived plenojure of the right to such contribution and must remit to the Office any amount paid by it as a contribution to the payment of interest on the said loan, but the lender does not thereby lose the benefit of the loan insurance provided for in Division V.

1978, c. 50, s. 25.