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B-4 - Cultural Property Act

Section 32.1
Disposition versions

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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(2)  (subparagraph repealed);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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