C-75 - Farm Credit Act

Section 29 Disposition versions

1978-08-01

29. The loans (prêts) granted under paragraphs d, e, f and g of section 11, the Bureau may make to a borrower, when it considers it expedient, an additional loan for a term equal to that provided for in section 22 or for a shorter term, secured by hypothec ranking immediately after any hypothec held by the Office under this Act or by a lender under the Act to promote long term farm credit by private institutions, or by an agricultural pledge invoking a hypothec if it considers it appropriate and on the other conditions which the Bureau determines in the deed of loan.

However, the amount of such additional loan (prêt) by adding thereto the balance of the principal of a loan (prêt) made under paragraphs d, e, f and g of section 11 shall not exceed the maximum provided for in paragraphs d, e and f of section 11 respectively, nor exceed the maximum limit of the obligations of a borrower either towards the Office under this Act or towards a lender under the Act to promote long term farm credit by private institutions, fixed by section 31.

R. S. 1964, c. 108, s. 19; 1969, c. 41, s. 12; 1972, c. 32, s. 7; 1975, c. 34, s. 12; 1978, c. 44, s. 8.

1977-12-31

29. The loans (prêts) granted under paragraphs d, e, f and g of section 11, the Bureau may make to a borrower, when it considers it expedient, an additional loan for a term equal to that provided for in section 22 or for a shorter term, secured by hypothec ranking immediately after any hypothec which the Bureau already holds or by an agricultural pledge invoking a hypothec if it considers it appropriate and on the other conditions which the Bureau determines in the deed of loan.

However, the amount of such additional loan (prêt) by adding thereto the balance of the principal of a loan (prêt) made under paragraphs d, e, f and g of section 11 shall not exceed the maximum provided for in paragraphs d, e and f of section 11 respectively, nor exceed the maximum limit of the obligations of a borrower towards the Bureau, fixed by section 31.

R. S. 1964, c. 108, s. 19; 1969, c. 41, s. 12; 1972, c. 32, s. 7; 1975, c. 34, s. 12.