Farm Income Protection Act (S.C. 1991, c. 22)

Act current to 2014-09-29 and last amended on 2013-03-01. Previous Versions

Farm Income Protection Act

S.C. 1991, c. 22

Assented to 1991-04-11

An Act authorizing agreements between the Government of Canada and the provinces to provide for protection for the income of producers of agricultural products and to enable the Government of Canada to take additional measures for that purpose

Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:

SHORT TITLE

Marginal note:Short title

 This Act may be cited as the Farm Income Protection Act.

INTERPRETATION

Marginal note:Definitions

 In this Act,

“agreement”

« accord »

“agreement”, unless the context indicates otherwise, means an agreement entered into under subsection 4(1);

“agricultural product”

« produit agricole »

“agricultural product” means

  • (a) an animal, a plant or an animal or plant product, or

  • (b) a product, including any food or drink, that is wholly or partly derived from an animal or a plant;

“crop insurance program”

« assurance-récolte »

“crop insurance program” means a program for the insurance of specified agricultural products against loss from natural causes that is established by the laws of a province and administered by the province;

“financial institution”

« institution financière »

“financial institution” has the same meaning as in section 2 of the Bank Act;

“gross revenue insurance program”

« régime universel »

“gross revenue insurance program” means a program that combines the protection offered by a crop insurance program and the protection offered by a revenue insurance program;

“Minister”

« ministre »

“Minister” means the Minister of Agriculture and Agri-Food;

“net income stabilization account program”

« programme compte de stabilisation du revenu net » ou « programme »

“net income stabilization account program” means a program under which

  • (a) a participating producer elects to contribute to an account established pursuant to an agreement and to which Canada and the provinces that are parties to the agreement contribute, and

  • (b) that enables payments to be made to that producer from that account on terms and conditions set out in the agreement;

“prescribed”

Version anglaise seulement

“prescribed” means prescribed by regulation made by the Governor in Council;

“revenue insurance program”

« assurance-revenu »

“revenue insurance program” means a program that is designed to insure a portion of the value of an eligible agricultural product produced or marketed by a producer participating in the program;

“reinsurance agreement”

« accord de réassurance »

“reinsurance agreement” means that part of an agreement respecting the reinsurance of a portion of a liability for the payment of indemnities under a crop insurance program or a gross revenue insurance program.

  • 1991, c. 22, s. 2;
  • 1994, c. 38, s. 25;
  • 2007, c. 35, s. 154.