C-75 - Farm Credit Act

Section 19 Disposition versions

1978-06-08

19. The capital repayments collected by the Office on its loans shall be remitted to the Minister of Finance to be applied to the capital repayment of the loans contemplated in the second paragraph and to the redemption of the bonds, debentures or other securities issued by the Office that are held by the Government.

Such moneys shall be deposited in a special fund which shall be allocated, first, to the repayment of loans contracted by the Office from lenders other than the Minister of Finance, secondly, to the repayment of loans contracted by the Office from the Minister of Finance, thirdly, to the repayment of loans contracted by the Government under this act, and, fourthly, to the repayment of any other loan or loans contracted by Québec and designated by the Government, the proceeds whereof were used in whole or in part to reimburse the consolidated revenue fund for advances made to the Office.

The sums collected by the Office as interest on its loans shall be remitted to the Minister of Finance to be deposited in a special fund which shall be applied, first, to the payment of the interest payable on loans contracted by the Office from lenders other than the Minister of Finance and, secondly, to the payment of the interest payable on any loan contracted by the Office from the Minister of Finance or on any loan contracted by the Government that is referred to in the second paragraph.

The sums deposited in the special funds contemplated in the second and third paragraphs shall be invested in accordance with the last paragraph of section 63 of the Financial Administration Act (chapter A-6), pending their employment pursuant to the second and third paragraphs, and the interest derived therefrom shall be paid into the consolidated revenue fund.

R. S. 1964, c. 108, s. 14; 1969, c. 41, s. 9; 1970, c. 17, s. 101; 1977, c. 5, s. 14; 1978, c. 44, s. 3.

1977-12-31

19. The capital repayments collected by the Bureau on its loans (prêts) shall be remitted to the Minister of Finance to be applied to the payment of bonds, debentures or other securities issued by the Bureau and held by the Gouvernement.

Such monies shall be deposited into a special fund which shall be allocated firstly to the payment of the loans (emprunts) contracted by the Bureau under section 11, secondly to the payment of loans contracted by the Gouvernement under this act and thirdly to the payment of any other loan or loans contracted by the Gouvernement and designated by the Gouvernement, the proceeds whereof, in whole or in part, were used to reimburse the consolidated revenue fund for advances made to the Bureau.

The sums deposited in the said special fund shall be invested in accordance with the provisions of the last paragraph of section 63 of the Financial Administration Act (chapter A-6), pending their employment pursuant to the provisions of the second paragraph of this section, and the interest derived therefrom shall be paid into the consolidated revenue fund.

R. S. 1964, c. 108, s. 14; 1969, c. 41, s. 9; 1970, c. 17, s. 101; 1977, c. 5, s. 14.