Marginal note:Disposal of property by Board in case of rescission
23. In the event of the rescission of any contract or agreement by the Board it may, subject to the provisions of section twenty-one, in order to recoup itself for its expenditures in connection with the acquirement of the property with reference to which such agreement of sale was made, and other advances, if any, made to the settler under the provisions of this Act or of the former Act or to regain the value of such property, sell, lease, exchange or otherwise dispose of such property to a settler or, with the approval of the Minister, to any other person.
- 1919, c. 71, s. 23.
Leasing of Lands
Marginal note:Terms of lease to settler
24. Any land purchased or held for disposition by the Board may, pending such disposition, be leased by the Board to a settler or otherwise upon terms satisfactory to the Minister.
- 1919, c. 71, s. 24.
Advances for the Discharge of Encumbrances
Marginal note:Limitation as to advances to settler to discharge encumbrances
25. The Board may from time to time advance to a settler, to enable the discharge of encumbrances on agricultural land which is owned and used by him as such, amounts in money not exceeding in the aggregate three thousand five hundred dollars and not exceeding fifty per centum of the value of such land, but so that the total made by
(a) the advances of the Board to the settler under this section; and
(b) the amounts, exclusive of interest, due by him to the Board in any connection under authority of this Act, shall not exceed five thousand dollars.
Marginal note:Advances to be first charge secured by first mortgage, terms of repayment, interest, etc.
2. Such advances shall, by force of this Act, constitute a first charge on the land of the settler with respect to which the advance is made, and repayment thereof shall be secured by a first mortgage upon such land and shall be made in twenty-five or less equal, consecutive, annual instalments with interest at five per centum per annum, on the amortization plan, with full privilege of prepayment.
Marginal note:Dominion lands
3. In the case of advances made to a settler holding unpatented Dominion lands such advances shall, further, notwithstanding anything in the Dominion Lands Act or any other matter or circumstance, constitute a first charge against such lands, and no patent shall be issued to the settler therefor until such advances, with accrued interest, have been fully repaid.
Marginal note:No advance without sufficient security and assurance that settler can make living on land
4. No advance such as by subsection one of this section authorized shall be made unless the Board is satisfied
(a) that the value of the security, ascertained as in section twelve of this Act directed with respect to lands to be acquired by the Board, is sufficient to justify the making of the advance; and
(b) that the applicant has the ability to make from the land a fair living for himself and his dependents, if any, after paying interest and amortization charges and other necessary payments with respect to such advances and to the land and the cultivation thereof.
Marginal note:How advances expended
5. Every such advance shall be expended under the supervision of the Board.
- 1919, c. 71, s. 25.
- Date modified: