Regulations Respecting the Loan of Public Property
P.C. 1992-2596 1992-12-14
His Excellency the Governor General in Council, on the recommendation of the Treasury Board, pursuant to section 61 of the Financial Administration Act, is pleased hereby to revoke the Personal Property Loan Regulations, made by Order in Council P.C. 1983-506 of February 17, 1983Footnote *, and to make the annexed Regulations respecting the loan of public property in substitution therefor.
2 In these Regulations, lending authority means
(b) a departmental corporation. (autorité prêteuse)
3 These Regulations apply in respect of the lending of public property other than real property.
(a) a description of the consideration for the loan;
(b) an undertaking that the borrower will indemnify Her Majesty for, and save Her Majesty harmless from, all losses and claims of any kind in respect of the borrower’s use or possession of the public property;
(c) a statement that the lending authority may, at any reasonable time, inspect the public property and view its state of repair;
(d) the term of the loan; and
(e) identification of any security that the lending authority requires.
(2) Where, in the opinion of the lending authority, an emergency exists, a loan of public property may be made on obtaining a written acknowledgement of receipt thereof from the borrower.
(3) Where a loan is made pursuant to subsection (2), the lending authority shall enter into a written contract for the loan, in the form described in subsection (1), as soon as practicable thereafter.
- Date modified: