H-5 - Hydro-Québec Act

Section 41 Disposition versions

1999-04-01

41. (Repealed).

R. S. 1964, c. 86, s. 43; 1978, c. 41, s. 1; 1996, c. 2, s. 691.

1978-10-01

41. The Government may authorize the Minister of Finance to make advances to the Corporation to the extent of $10 000 000 at a rate of interest of 2%, amortizable over a period of not more than fifty years, for the construction of electric distribution lines for the service of any rural municipality.

The amount of such advances shall be taken out of the consolidated revenue fund.

Upon a report of the Corporation attesting that the construction of a line to serve a rural municipality is necessary and that conditions are such that the full amount of interest and sinking-fund cannot be met at the outset, the Government may dispense with payment, in whole or in part, of the interest and amortizement on any advance requisite for the construction of such line for a period not exceeding five years.

R. S. 1964, c. 86, s. 43; 1978, c. 41, s. 1.

1977-12-31

41. The Gouvernement may authorize the Minister of Finance to make advances to the Commission to the extent of ten million dollars at a rate of interest of two per cent, amortizable over a period of not more than fifty years, for the construction of electric distribution lines for the service of any rural municipality.

The amount of such advances shall be taken out of the consolidated revenue fund.

Upon a report of the Commission attesting that the construction of a line to serve a rural municipality is necessary and that conditions are such that the full amount of interest and sinking-fund cannot be met at the outset, the Gouvernement may dispense with payment, in whole or in part, of the interest and amortisement on any advance requisite for the construction of such line for a period not exceeding five years.

R. S. 1964, c. 86, s. 43.