T-0.1 - Act respecting the Québec sales tax

Section 380.4 Disposition versions

2015-10-21

380.4. Where, for the purpose of satisfying in whole or in part a debt or obligation owing by a person (in this section referred to as the “debtor”), a creditor exercises a right under an Act of the Legislature of Québec, another province, the Northwest Territories, the Yukon Territory or Nunavut, or of the Parliament of Canada or an agreement relating to a debt security to cause the supply of movable property and, under the Act or the agreement, the debtor has a right to redeem the property, the following rules apply:

(1)  the debtor is not entitled to claim a rebate under section 380.2 in respect of the property unless the time limit for redeeming the property has expired and the debtor has not exercised the debtor’s right of redemption; and

(2)  where the debtor is entitled to claim a rebate, the consideration for the supply is deemed, for the purposes of section 380.3, to have become due on the day on which the time limit for redeeming the property expires.

2015, c. 21, s. 707.