Farm Income Protection Act

Marginal note:Definitions

2 In this Act,

agreement

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

agricultural product

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; (produit agricole)

crop insurance program

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; (assurance-récolte)

financial institution

financial institution has the same meaning as in section 2 of the Bank Act; (institution financière)

gross revenue insurance program

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; (régime universel)

Minister

Minister means the Minister of Agriculture and Agri-Food; (ministre)

net income stabilization account program

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; (programme compte de stabilisation du revenu net ou programme)

prescribed

prescribed means prescribed by regulation made by the Governor in Council; (Version anglaise seulement)

revenue insurance program

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; (assurance-revenu)

reinsurance agreement

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. (accord de réassurance)