Government of Canada / Gouvernement du Canada
Symbol of the Government of Canada


Canadian Agricultural Loans Regulations

Version of section 22 from 2006-03-22 to 2014-02-27:

  •  (1) Unless otherwise instructed by the Minister, a lender shall, even if its claim for loss in respect of a loan has been paid, take action to effect collection of the loan on behalf of the Minister by

    • (a) collecting payments of principal and interest owed by the borrower under the terms of the loan;

    • (b) realizing on any security taken with respect to a loan made under these Regulations;

    • (c) continuing any legal proceedings that were commenced pursuant to subsection 19(2) or (3); or

    • (d) commencing legal proceedings in respect of default in payment if none were commenced under subsection 19(2) or (3).

  • (2) Any payment or security that is collected or realized under subsection (1) shall be remitted without delay to the Minister.

  • (3) Any actual costs incurred in relation to an action referred to in subsection (1) shall be the subject of a claim and be made and proceeded with in the manner set out in section 20.

Date modified: