Expropriation Act Basic Rate Order (C.R.C., c. 640)

Short Title

1 This Order may be cited as the Expropriation Act Basic Rate Order.

Basic Rate

2 For the purpose of section 33 of the Expropriation Act, the basic rate shall be

• (a) for any period ending on or before September 30, 1973, six per cent per annum; and

• (b) for any quarterly period commencing after September 30, 1973

  • (i) six per cent per annum, or

  • (ii) a rate per annum

    • (A) equal to the average yield of Government of Canada treasury bills for the period of four weeks preceding the quarterly period, where that average yield does not contain a fraction other than a multiple of one-quarter, or

    • (B) calculated to the nearest quarter of one per cent above the average yield described in clause (A), where that average yield contains a fraction other than a multiple of one-quarter,

  whichever is greater.