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B-4 - Cultural Property Act

Section 32.1
Disposition versions

Full text
32.1. Section 32 does not apply to hypothecs.
Nor does it apply where the person or agency contemplated in the first paragraph thereof becomes the owner of a classified immovable cultural property by the exercise of a right to take in payment, if all the following conditions are met:
(1)  the principal undertaking thereof consists of lending money on real security;
(2)  (subparagraph repealed);
(3)  the property is not taken as a result of one or several transactions made mainly for the purpose of evading this Act.
1985, c. 24, s. 24; 1992, c. 57, s. 444.
32.1. Section 32 does not apply to hypothecs.
Nor does it apply where the person or agency contemplated in the first paragraph thereof becomes the owner of a classified immovable cultural property by a giving in payment, if all the following conditions are met:
(1)  the principal undertaking thereof consists of lending money on real security;
(2)  the property is taken pursuant to a clause of the deed constituting the security;
(3)  the property is not taken as a result of one or several transactions made mainly for the purpose of evading this Act.
1985, c. 24, s. 24.
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