taux de base
basic rate means a rate determined in the manner prescribed by any order made from time to time by the Governor in Council for the purposes of this section, being not less than the average yield, determined in the manner prescribed by that order, from Government of Canada treasury bills; (taux de base)
compensation means the amount of the compensation adjudged by the Court under this Part to be payable in respect of an expropriated interest; (indemnité)
date of possession
date de la possession
date of possession means the day on which the Crown became entitled to take physical possession or make use of the land to which a notice of confirmation relates; (date de la possession)
date of the offer
date de l’offre
date of the offer means the day on which an offer was accepted; (date de l’offre)
offer means an offer under section 16. (offre)
Marginal note:Interest payable by Crown
(2) Interest is payable by the Crown at the basic rate on the compensation, from the date of possession to the date judgment is given, except where an offer has been accepted.
Marginal note:Interest payable where offer accepted
(3) Where an offer has been accepted, interest is payable by the Crown from the date of the offer to the date judgment is given,
(a) at the basic rate on the amount by which the compensation exceeds the amount of the offer, and
(b) in addition, at the rate of five per cent per annum on the compensation, if the amount of the offer is less than ninety per cent of the compensation,
and where an offer has been accepted after the date of possession, interest is payable at the basic rate on the compensation, from the date of possession to the date of the offer.
Marginal note:Additional interest where delay in offer
(4) Where an offer is not made until after the expiration of the applicable period described in paragraph 16(1)(b) for the making of the offer, interest, in addition to any interest payable under subsection (2) or (3), is payable by the Crown at the rate of five per cent per annum on the compensation, from the expiration of that period to the day on which an offer is made.
Marginal note:Discretion of Court where delay
(5) Where the Court is of opinion that any delay in the final determination of the compensation is attributable in whole or in part to any person entitled thereto, or that the person has failed to deliver up possession within a reasonable time after demand, the Court may, for the whole or any part of any period for which he would otherwise be entitled to interest, refuse to allow him interest, except that the Court shall not so refuse by reason only that an offer made to him was not accepted.
- R.S., c. 16(1st Supp.), s. 33
- Date modified: