Canada Grain Act

Marginal note:Surrender of elevator receipt by holder

68.1 An elevator receipt issued pursuant to section 61 or 62 entitles its holder to delivery of grain only if the elevator receipt is surrendered for the delivery of grain within such period as is prescribed and, where an elevator receipt is not surrendered within that period,

• (a) the elevator operator who issued the elevator receipt is deemed to have purchased the grain to which the receipt relates on the day the period expires and at the market price of that day less any charges accrued under this Act in respect of the grain; and

• (b) the elevator operator shall issue a cash purchase ticket in respect of the grain.