Soldier Settlement Act — S-12.8 68
Revaluation of land sold to settlers Conditions 68 Notwithstanding anything in this Act, a settler who is indebted to the Board in respect of an amount loaned to him by the Board under the former Act for and expended in the purchase of agricultural land or has agreed to purchase any land from the Board, who has not assigned or transferred his interest in his land, whose agreement with the Board has not been terminated or rescinded, who has not repaid his indebtedness to the Board, and who claims that there has been a depreciation in the value of such land not the result of neglect or mismanagement on his part, may make application for the revaluation of the said land subject to the following conditions: — Application to District Superintendent (a) application for revaluation shall be submitted to the District Superintendent of the Soldier Settlement Board for the district within which the said land is situate; Affidavits (b) the application shall be supported by a statutory declaration setting out (i) the original purchase price of the land and the value of improvements effected since the establishment of the settler thereon, and (ii) his belief as to present value of the land and his reasons therefor; How depreciation shall be computed (c) the depreciation in value to be determined shall be the amount by which, through no neglect or mismanagement on the part of the settler, the price at which the Board agreed to sell the land and improvements to the settler or the price under the former Act paid by the settler with the approval of the Board for the land and improvements exceeds the present value, and in determining the present value of the land, improvements made by the settler shall not be included: Provided that in any case where the actual sale price is greater than the maximum amount which under section sixteen of this Act may be advanced by the Board in the purchase of land on behalf of any settler, such maximum amount shall be deemed the sale price for the purposes of this section; Time for application (d) all applications for revaluation must be submitted to the Board prior to the first day of October, one thousand nine hundred and twenty-seven, except as otherwise provided by regulation; Board to determine depreciation in value Appeal to Federal Court (e) upon the receipt of an application made in accordance with the terms of this section the Board shall ascertain and determine the depreciation in value as set forth in paragraph (c) of this section; and if any applicant is dissatisfied with the decision of the Board he may within such time as is prescribed by regulations made by the Governor in Council, appeal to the Federal Court of Canada, and the decision of that Court shall be final; Expenditure (f) expenditures necessarily incurred by or in connection with the administration of this Act as may be provided by regulation, shall be paid out of moneys appropriated from time to time by Parliament to soldier land settlement; Credit to settler if depreciation found (g) where the decision shows that there has been depreciation as hereinbefore set forth in paragraph (c) in the value of the land and improvements which the Board agreed to sell to a settler, the Board, notwithstanding anything in this Act, shall credit the settler’s account as on the standard date in 1925 with the amount of depreciation as finally determined, and upon the settler’s account being so credited, the balance then owing by the settler for all purposes shall, at the discretion of the Board, be consolidated and deemed to be the settler’s total indebtedness and the total cost of the property may be amortized over the remaining period of the loan: Provided that the maximum amount which may be so credited to any settler shall in no case exceed the settler’s total indebtedness to the Board as at the time of the final determination of the amount of depreciation in value aforesaid; Regulations (h) the Board may with the approval of the Governor in Council