C-79 - Act to promote special credit to agricultural producers during critical periods

Section 6 Disposition versions

1978-08-01

6. The Government guarantees to the lender repayment of any loss in principal and interest resulting from a loan and the expenses allowable by regulation incurred to obtain payment in principal and interest of such loans.

The guarantee contemplated in the first paragraph applies only to loans contracted before 1 August 1978.

The Fonds d’assurance-prêts agricoles et forestiers established under the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1) guarantees to the lender, in conformity with that act, the repayment of losses in principal and interest resulting from loans contracted from 1 August 1978, and of the expenses allowable by regulation under the said act that are incurred to claim or obtain the payment thereof.

The Bureau is subrogated in the rights of the lender to whom repayment is made under this section up to the amount so repaid.

1972, c. 39, s. 6; 1977, c. 5, s. 14; 1978, c. 49, s. 39.

1977-12-31

6. The Gouvernement guarantees to the lender repayment of any loss of principal and interest from a loan and the expenses allowed by regulation incurred to obtain payment of principal and interest of such loans.

The Bureau is subrogated in the rights of the lender to whom repayment is made under this section up to the amount so repaid.

1972, c. 39, s. 6; 1977, c. 5, s. 14.