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C-78 - Forestry Credit Act

Section 48
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48. The Government may establish a working fund for the agency out of the Consolidated Revenue Fund not exceeding $500,000 for the outlays necessary for the protection of the loans it grants, namely, for payment of insurance premiums, taxes and assessments, exercise of redemption rights, acquisition, conservation, administration, restoration and resale of the property securing the loans. As soon as they are recovered, the sums so paid out shall be returned to such working fund.
1975, c. 33, s. 48; 1977, c. 38, s. 2; 2000, c. 53, s. 66.
48. The Government may establish a working fund for the Bureau out of the consolidated revenue fund not exceeding $500 000 for the outlays necessary for the protection of the loans it grants, namely, for payment of insurance premiums, taxes and assessments, exercise of redemption rights, acquisition, conservation, administration, restoration and resale of the property securing the loans. As soon as they are recovered, the sums so paid out shall be returned to such working fund.
1975, c. 33, s. 48; 1977, c. 38, s. 2.
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