A-6.001 - Financial Administration Act

Full text
16.1. Incidentally to a transaction effected under the first paragraph of section 16, in particular a reserve, margin or settlement deposit, the Minister may, where the Minister deems it advisable, and in accordance with an instrument entered into by the Minister,
(1)  encumber with a movable hypothec with delivery any monetary claim the Minister may exercise and any security or security entitlement, within the meaning of the Act respecting the transfer of securities and the establishment of security entitlements (chapter T-11.002), that the Minister holds;
(2)  transfer or receive, without other authorization, an amount of money allowing the person who receives it to extinguish or reduce, in all circumstances described in the instrument and by means of a set-off, the person’s obligation to reimburse that amount.
2011, c. 18, s. 17; 2015, c. 8, s. 350.
16.1. Incidentally to a transaction effected under the first paragraph of section 16, the Minister may, where the Minister deems it advisable, encumber with a movable hypothec with delivery any security or security entitlement within the meaning of the Act respecting the transfer of securities and the establishment of security entitlements (chapter T-11.002) that the Minister holds.
2011, c. 18, s. 17.