Farm Income Protection Act
Marginal note:Additional elements respecting net income stabilization account programs
8 (1) An agreement that provides for the establishment of a net income stabilization account program shall, in addition to the required elements referred to in subsection 5(1), provide for
(a) the eligible net sales, eligible production costs, gross margin and maximum eligible net sales, or the methods of determining the sales, costs and margin, that enable a producer to participate in the program;
(b) subject to subsection (2), the manner in which an account for each producer is to be established and the procedure for making deposits to and withdrawals from the account;
(c) the maximum balance of any such account;
(d) the maximum annual contribution of a producer; and
(e) the manner of determining the contribution to be made by Canada and the provinces, including any interest and bonus in respect of each producer’s account.
Marginal note:Division of account into two funds
(2) The account for each producer participating in a net income stabilization program shall be composed of
(a) Fund No. 1, to which shall be credited all amounts paid by the producer in respect of the program; and
(b) Fund No. 2, to which shall be credited all other amounts paid in respect of that producer as or on account of contributions, interest and bonuses.
- Date modified: