A-6 - Financial Administration Act

Full text
63. (Replaced).
1970, c. 17, s. 63; 1977, c. 5, s. 14; 2000, c. 15, s. 166.
63. The Government may authorize the Minister to make withdrawals from the consolidated revenue fund annually, up to an amount sufficient to create an adequate sinking-fund to provide for the redemption of any loan effected under this division.
Whenever a loan of the Government, under whatever authority effected, for which a sinking-fund has been provided, is redeemed prior to maturity or renewed or paid at maturity, the Government may authorize the Minister to transfer such sinking-fund or any part thereof and make it applicable to another loan effected or to be effected, in whole or in part, for the purpose of redeeming prior to maturity or of renewing or of paying at maturity the loan for which such sinking-fund has been provided or of funding any temporary loan effected for the purpose of such redemption, renewal or payment or any renewal of such temporary loan.
The contributions to and revenues from such sinking-funds shall be invested or deposited by the Minister, who shall report thereon to the Government.
1970, c. 17, s. 63; 1977, c. 5, s. 14.