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AR 368/85 EMERGENCY HOME PROGRAM LOANS REGULATION

(no amdt)

ALBERTA REGULATION 368/85

Government Organization Act

RURAL EMERGENCY HOME PROGRAM LOANS REGULATION

Table of Contents

                1       Definitions

                2       Authorization to carry out program

                3       Application for loan


                4       Loan

                5       Repayment

                6       Government of Canada guarantee

                7       Assumption of debts re Corporations housing program

Definitions

1   In this Regulation,

                                 (a)    “Corporation” means the Alberta Mortgage and Housing Corporation;

                                 (b)    “Corporation’s housing program” means the Rural Mobile Home Program on Reserves operated by the Corporation;

                                 (c)    “Indian band” means an Indian band as defined under the Indian Act (Canada) that is located in Alberta.

AR 368/85 s1

Authorization to carry out program

2   The Minister is authorized to make loans in accordance with this Regulation for the purpose of providing housing to Indian bands that, in the opinion of the Minister, have an emergency situation with respect to providing housing to their members.

AR 368/85 s2

Application for loan

3(1)  An Indian band may apply for a loan under this Regulation by making a written application for the loan to the Minister.

(2)  The application for the loan shall be in the manner and form prescribed by the Minister.

AR 368/85 s3

Loan

4   On considering an application the Minister may make a loan to the applicant on the terms and conditions that the Minister considers appropriate in the circumstances.

AR 368/85 s4

Repayment

5   The terms of repayment of the loan shall be set by the Minister.

AR 368/85 s5

Government of Canada guarantee

6   The Minister shall not make a loan under this Regulation unless the repayment of the loan by the borrower is guaranteed by the Government of Canada.

AR 368/85 s6

Assumption of debts re Corporations housing program

7   The Minister shall assume by assignment from the Corporation all the outstanding loans made under the Corporation’s housing program that were

                                 (a)    made to Indian bands, and

                                 (b)    held by the Corporation as of January 1, 1985.

AR 368/85 s7