Purchase by Minister at tax sale
16(1)Where a sale is held under section 12, the Minister may purchase the real property at such sale if:
(a)
he bids no more than the total of
(i)
the costs associated with the tax sale proceedings,
(ii)
subject to subsection (3), all tax arrears on the real property and penalties payable under subsection 10(3), and
(ii.1)
the debt remaining unpaid with respect to the amount of the payments under subsection 5(13) and any interest on that amount payable under subsection 5(15), and
(iii)
Repealed: 1982, c.56, s.10
(b)
no other equal or higher bid is made.
16(2)Where the Minister is the purchaser at the sale, the procedure to be followed is the same as provided under this Act where any other person is the purchaser.
16(3)Subparagraph (1)(
a)(ii) does not apply to the tax imposed by a municipality under paragraph 5(2)(
a) or the tax imposed by a rural community under paragraph 5(2)(
a.1) and the penalties on such taxes unless the Minister approved a request by the municipality or rural community under section 12.1 or 12.2, as the case may be, before a tax sale proceeding was instituted under section 12.
1966, c.151, s.16; 1982, c.56, s.10; 1993, c.11, s.10; 1996, c.46, s.15; 1998, c.16, s.9; 2010, c.2, s.14