A-6.002, r. 1 - Regulation respecting fiscal administration

Section 10r3 Disposition versions

2012-09-01

10R3. A hypothec given to the Minister shall:

(1)  be granted by a person who has a right of property in the immovable that is neither conditional, defeasible nor subject to rescission;

(2)  cover the entire amount of the debt including all interest payable upon the giving of the hypothec, and all interest becoming payable within the following 12 months, and be granted in respect of an immovable having a market value, less any other charge affecting the immovable, that covers not less than the entire amount of the debt;

(3)  be granted until extinction of the debt, or be renewable at regular intervals until extinction of the debt.

O.C. 1930-86, s. 1; O.C. 134-2009, s. 50.