C-78 - Forestry Credit Act

Section 47 Disposition versions

2001-04-17

47. The Minister of Finance may at the request of the agency pay to it, out of the Consolidated Revenue Fund, the sums required to make up for each fiscal year of the agency,

(a)  the difference between the amount of interest payable by the agency on borrowings contracted under sections 46 and 46.3 and the amount paid as interest by borrowers from or debtors of the agency;

(b)  any loss in principal and interest sustained by the agency on its loans and of which repayment is not insured under the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1);

(c)  any expense charged to the agency’s working fund, not recuperated by the realization of the guarantees and of which repayment is not insured under the Act respecting farm-loan insurance and forestry-loan insurance.

1975, c. 33, s. 47; 1980, c. 29, s. 5; 2000, c. 53, s. 66.

1980-12-19

47. The Minister of Finance may at the request of the Bureau pay to it, out of the consolidated revenue fund, the sums required to make up for each fiscal year of the Bureau,

(a)  the difference between the amount of interest payable by the Bureau on borrowings contracted under sections 46 and 46.3 and the amount paid as interest by borrowers from or debtors of the Bureau;

(b)  any loss in principal and interest sustained by the Bureau on its loans and of which repayment is not insured under the Act respecting farm-loan insurance and forestry-loan insurance (chapter A-29.1);

(c)  any expense charged to the Bureau’s working fund, not recuperated by the realization of the guarantees and of which repayment is not insured under the Act respecting farm-loan insurance and forestry-loan insurance.

1975, c. 33, s. 47; 1980, c. 29, s. 5.

1977-12-31

47. The Minister of Finance may at the request of the Bureau pay to it out of the consolidated revenue fund the sums required for each fiscal year of the Bureau to make up the difference between the amount of interest payable by the Bureau on its borrowings from such minister and the amount paid as interest by borrowers or debtors to the Bureau.

1975, c. 33, s. 47.