F-1.2 - Act respecting farm financing

Section 5 Disposition versions

1989-03-15

5. The following may act as a lender for the purposes of this Act, to the extent provided in Chapter II:

(1)  any of the following institutions:

(a)  a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4.1);

(b)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or by the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);

(2)  any person to whom all or part of the balance of the purchase price of a farming business or of shares, common shares, capital stock or interests, as the case may be, in a group operation is owing; the sale must be made by a person whose principal occupation is or formerly was the operation of that farming business or of the farming business owned or leased by that group operation, to a farmer, aspiring farmer or group operation. The same applies where the seller grants a loan to a farmer, aspiring farmer or group operation making the purchase, in an amount corresponding to the balance or the part of the balance of the price of the sale.

1987, c. 86, s. 5; 1988, c. 64, s. 587.

1988-12-12

5. The following may act as a lender for the purposes of this Act, to the extent provided in Chapter II:

(1)  any of the following institutions:

(a)  a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4);

(b)  a bank governed by the Bank Act (Revised Statutes of Canada, 1985, chapter B-1) or by the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);

(2)  any person to whom all or part of the balance of the purchase price of a farming business or of shares, common shares, capital stock or interests, as the case may be, in a group operation is owing; the sale must be made by a person whose principal occupation is or formerly was the operation of that farming business or of the farming business owned or leased by that group operation, to a farmer, aspiring farmer or group operation. The same applies where the seller grants a loan to a farmer, aspiring farmer or group operation making the purchase, in an amount corresponding to the balance or the part of the balance of the price of the sale.

1987, c. 86, s. 5.

1988-08-11

5. The following may act as a lender for the purposes of this Act, to the extent provided in Chapter II:

(1)  any of the following institutions:

(a)  a savings and credit union governed by the Savings and Credit Unions Act (chapter C-4);

(b)  a bank governed by the Bank Act (Statutes of Canada, 1980-81, chapter 40) or by the Quebec Savings Banks Act (Revised Statutes of Canada, 1970, chapter B-4);

(2)  any person to whom all or part of the balance of the purchase price of a farming business or of shares, common shares, capital stock or interests, as the case may be, in a group operation is owing; the sale must be made by a person whose principal occupation is or formerly was the operation of that farming business or of the farming business owned or leased by that group operation, to a farmer, aspiring farmer or group operation. The same applies where the seller grants a loan to a farmer, aspiring farmer or group operation making the purchase, in an amount corresponding to the balance or the part of the balance of the price of the sale.

1987, c. 86, s. 5.