Agricultural Marketing Programs Act

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

  by

  • (b) the rate per production unit that is specified by the Minister 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.

  by

  • (c) the rate obtained by subtracting the administrator’s percentage, as determined under the regulations, from 100%.

• 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.

• Marginal note:Exception

  (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.