Soldier Settlement Act (R.S.C. 1927, c. 188)

Marginal note:Certain interest charges remitted Application of payments made

72 All interest charges which accrued under this Act during the twelve months immediately preceding the standard date in 1932, other than in respect of any contract between the Director and any person under and by virtue of an agreement between His Majesty’s Secretary of State for the Colonies and the Government of the Dominion of Canada and bearing date the twentieth day of August, 1924, are remitted, and any payment heretofore made in respect thereof shall be applied toward reduction of principal indebtedness.

Marginal note:Time extended for credit on payments of arrears

• 73 (1) Any settler or person indebted in respect of any contract or agreement made prior to the first day of January, 1933, under the provisions of this Act, who after the thirty-first day of March, 1933, makes payment on or before the thirty-first day of March, 1941, in respect of any arrears due and payable before the first day of April, 1938, shall, subject to the provisions of this section, receive credit toward payment of such arrears for a further sum equal to the payment made.

• Marginal note:Limitation

  (2) No such additional credit shall be accorded in respect of moneys the proceeds of alienation of any property charged under this Act or of fire insurance or due as the cash down payment under any agreement for sale of land.

• Marginal note:Evidence satisfactory to Director must be produced

  (3) Any such credit shall be accorded only upon production to the Director of evidence satisfactory to him that any fire insurance premium payable and all taxes imposed in respect of such person’s interest in the land charged under this Act during the then current year in the case of payment of arrears or the year or years in respect of which payment is made in the case of instalments have been paid or made the subject of arrangement.

• Marginal note:Exceptions

  (4) This section shall not apply to any person indebted under a contract between him and the Director under or by virtue of an agreement between His Majesty’s Secretary of State for the Colonies and the Government of the Dominion of Canada mentioned in section seventy-two of this Act until the consent thereto of His Majesty’s Government of Great Britain has been obtained as hereinafter provided, or to a settler or person in respect of land held under this Act by virtue of a lease.

Marginal note:By consent of British Government, Director may apply certain provisions to British settlers

74 Upon the consent of His Majesty’s Government of Great Britain to bear the loss thereby occasioned in the proportion specified in the agreement between His Majesty’s Secretary of State for the Colonies and the Government of the Dominion of Canada mentioned in section seventy-two of this Act, the Director shall apply mutatis mutandis the provisions of section seventy, seventy-two and seventy-three of this Act to any person indebted under a contract for purchase of land entered into with the Director under and by virtue of such agreement.

Marginal note:Director’s rights in equipment to be released Exceptions

75 Notwithstanding anything in this Act, on or after the thirty-first day of March, 1933, in the case of any settler holding under purchase from the Director any equipment to which the Director retains title pending the completion by the settler of the payment of balance of the purchase price thereof, or on which the Director has a charge, lien, or other encumbrance as the result of any advances made to the settler pursuant to the provisions of this Act, the Director’s right, title and interest in such equipment shall be released by the Director in favour of the settler; provided that such release shall in no way relieve the settler from the payment by him to the Director of the balance of the purchase price of such equipment remaining unpaid together with accrued interest, or from the repayment of any amount secured by a lien, charge or other encumbrance against such equipment; provided further that no such release of title shall be made in favour of the settler where the settler has with the Director’s consent assigned his interest in such equipment to another party to whom the Director is obligated to deliver clear title upon the fulfilment by such party of certain obligations to the Director.

Marginal note:Reduction of interest rate in case of a settler, veteran of two wars R.S., c. 157

76 In any case where

• (a) a person is indebted in respect of any agreement made under this Act;

• (b) a person has not abandoned his land;

• (c) the agreement has not been terminated, rescinded or assigned;

• (d) a person at any time during the war that commenced in September, one thousand nine hundred and thirty-nine

  • (i) was engaged on active service in a naval, military or air force of Canada; or

  • (ii) was engaged on active service in any of His Majesty’s forces and at the time of his enlistment therein was ordinarily domiciled or resident in Canada;

• (e) a person either

  • (i) served in a theatre of actual war as designated by the Governor in Council under the authority of the Pension Act; or

  • (ii) served only in those parts of Canada that are not so designated by the Governor in Council as a theatre of actual war, for a period of not less than twelve months; or

  • (iii) is by reason of disability incurred as a result of such service in receipt of a pension; and

• (f) a person has been honourably discharged from the force in which he was so engaged or has been permitted honourably to resign or retire therefrom;

the rate of interest that may be charged in respect of any such agreement after the standard date in the year one thousand nine hundred and forty-two or the date of his enlistment in such force, whichever is the earlier, shall be three and one-half per centum per annum.

Marginal note:Reduction of interest rate in case of other settlers

77 In any case where a settler has not abandoned his land and his agreement made under this Act has not been terminated, rescinded or assigned, the rate of interest that may be charged in respect of any such agreement after the standard date in the year one thousand nine hundred and forty-four shall be three and one-half per centum per annum.