C-77.1 - Aquaculture Credit Act

Section 1 Disposition versions

2999-12-31

1. In this Act, unless the context indicates otherwise,

“aquaculture” means

(1)  the commercial production or breeding of fish, amphibians, echinoderms, crustaceans or shellfish or their eggs, sexual products or larvae for consumption or stocking purposes; or

(2)  the commercial cultivation or havesting of aquatic plants;

“borrowing” means a loan obtained in accordance with this Act, including a line of credit;

“borrower” means

(1)  a natural person to whom a loan is granted or who assumes its repayment;

(2)  a partnership, a legal person or a group operation as defined by regulation to which a loan is granted or which assumes its reimbursement;

“establishment” means the act of a natural person, of a partnership, of a legal person or of a group operation as defined by regulation of taking up aquaculture in an economic aquicultural plant as his or its principal occupation or activity;

“aquicultural plant” means a fish-breeding plant or an establishment in which aquatic plants are cultivated or harvested commercially;

“economic aquicultural plant” means an aquicultural plant which, taking into account all of its resources, is capable of producing a revenue enabling its operator to pay the operating costs thereof, including maintenance and depreciation, to fulfill his obligations and to support his family adequately;

“fish-breeding plant” means an establishment in which the commercial production or breeding of fish, amphibians, echinoderms, crustaceans or shellfish or their eggs, sexual products or larvae is carried on for consumption or stocking purposes;

“loan” means a loan granted in accordance with this Act, including a line of credit;

“lender” means any person determined by regulation as being authorized to grant a loan;

“permit holder” means a person to whom a permit is issued by the Minister of Agriculture, Fisheries and Food under the Act respecting commercial fisheries and aquaculture (chapter P-9.01), to operate a fish-breeding plant or to cultivate or harvest aquatic plants commercially.

1984, c. 21, s. 1.