39.01. Despite section 39, where the financial statements of the Fonds d’indemnisation des clients des agents de voyages indicate that the surplus accumulated in the fund as of 31 March is equal to or greater than $125M, the customers of travel agents are credited the amount of the contribution to the fund.
In that case, the travel agent must, on the receipt remitted in accordance with section 18, indicate
(a) the amount corresponding to the contribution calculated by multiplying the total cost of the purchased tourist services by 0.10%; and
(b) on the subsequent line, after the mention “Credit applicable”, the amount corresponding to a credit of a value equivalent to the amount calculated in accordance with subparagraph a.
The terms and conditions take effect on 1 January of the year following the submission of the financial statements of the fund.
The terms and conditions are maintained until the financial statements of the fund indicate a surplus accumulated in the fund as of 31 March of $75M or less. The obligation to contribute to the fund, in accordance with section 39, resumes on 1 January of the year following the submission of the financial statements of the fund.
986-2018O.C. 986-2018, s. 331.