Marginal note:Unmarketable agricultural product
11. If an agricultural product for which a guaranteed advance is made ceases to be in marketable condition, in whole or in part, through no fault of the producer, the producer becomes liable to repay immediately, to the administrator that made the advance, the portion of the guaranteed advance that is attributable to the unmarketable portion of the agricultural product, together with the interest on that portion from the date of the advance.
- 1997, c. 20, s. 11;
- 2006, c. 3, s. 7.
12. An administrator that makes a guaranteed advance to a producer in a production period in respect of an agricultural product shall take the security required by the regulations, for the amount of the producer’s liability under sections 22 and 23, in the agricultural product for which the advance was made, in any agricultural product produced in a subsequent production period by the producer and, subject to the repayment agreement, in any amount that may be received by the producer under a program listed in the schedule.
- 1997, c. 20, s. 12;
- 2006, c. 3, s. 7.
13. [Repealed, 2011, c. 25, s. 17]
14. [Repealed, 2011, c. 25, s. 17]
15. [Repealed, 2006, c. 3, s. 10]
16. [Repealed, 2011, c. 25, s. 17]
17. [Repealed, 2011, c. 25, s. 17]
18. [Repealed, 2011, c. 25, s. 17]
Amount of Advances
Marginal note:Amount of advance to be guaranteed
19. (1) Subject to subsection (3), the amount of an advance eligible for a guarantee under this Part is calculated by multiplying
(a) the number of production units for which the advance is to be made
(b) the rate per production unit specified in the advance guarantee agreement for the agricultural product for the production period for which the advance is made, or for a specified portion of the production period for which the advance is made.
Marginal note:Rate per production unit
(2) The rate per production unit may be specified for a particular agricultural product in a particular area, but it must not exceed 50%, or the percentage fixed by regulation, of the average price that in the Minister’s opinion will be payable to producers of the agricultural product in that area.
(3) If, because of paragraph 10(1)(h), the amount of the advance must be covered by a program listed in the schedule, the maximum amount of an advance eligible for a guarantee under this Part is the lesser of the amount calculated under subsection (1) and the percent-age, specified in the advance guarantee agreement, of the maximum amount that the producer could receive under that program.
- 1997, c. 20, s. 19;
- 2006, c. 3, s. 10.
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