F-1.2 - Act respecting farm financing

Section 133 Disposition versions

1988-08-11

133. The sums collected by the Office as interest on its loans, lines of credit or special loans, shall be allocated, first, to the payment of the interest payable on sums it has borrowed and, secondly, to the payment of the interest on the advances made by the Minister of Finance.

The sums collected by the Office as repayment of its loans, lines of credit or special loans shall be allocated as follows and in the following order of priority:

(1)  the repayment on the due date of the principal of its borrowings;

(2)  the establishment, as the case may be, of a sinking fund or other reserves related to its borrowings;

(3)  the repayment on the due date of advances made by the Minister of Finance, or, if there is no determined due date, as often as determined by the Minister of Finance.

1987, c. 86, s. 133.