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C-77 - Act to promote credit to farm producers

Section 19
Disposition versions

Full text
19. A borrower who obtains a loan by false statements or false pretences or uses the proceeds of the loan or any part thereof for purposes other than those for which the loan was obtained, shall ipsofacto forfeit the benefit of the term and is guilty of an offence and is liable, on summary proceeding, in addition to payment of the costs, to a fine of not more than $500.
Part II of the Summary Convictions Act (chapter P-15) shall apply to proceedings instituted under this section.
1972, c. 38, s. 15.
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