F-1.2 - Act respecting farm financing

Section 148 Disposition versions

1988-08-11

148. The Minister may, on the recommendation of the Office, revoke, totally or partially, the right of a person to whom a capital subsidy or interest subsidy was granted to receive the instalments of the subsidy that are not yet paid where

(1)  the person ceases to comply with the requirements for entitlement to the subsidy;

(2)  the loan in respect of which the interest subsidy was granted is not concluded or the deed of loan or the deed by which the loan is assumed is revoked or cancelled before any instalment of the subsidy has been made.

Where the revocation is total and occurs before any instalment of the subsidy has been made, the subsidy is deemed never to have been granted. In the case of a partial subsidy before any instalment of the subsidy has been made, the person who rendered the recipient eligible for the part of the subsidy subject to revocation is deemed never to have rendered the recipient eligible.

The Minister may, in writing, delegate his powers under this section to any person he designates.

1987, c. 86, s. 148.