E-12.1 - Act to promote the establishment of young farmers

Section 14 Disposition versions

1982-09-01

14. Where, on the date contemplated in section 5, the total holdings in a group operation, owned by the persons who meet the conditions prescribed in paragraph 2 of section 7 and qualify the operation for a grant, do not exceed 80%, the Minister may, subsequently, on the recommendation of the Bureau, make to that operation, notwithstanding section 2, an additional grant toward the interest borne by any loan in respect of which a grant has previously been made pursuant to section 2, whenever

(1)  any of such persons acquires additional holdings of not less than 20% in the operation and meets the conditions prescribed in section 16;

(2)  a farm operator or a farmer, as the case may be, becomes, after the date contemplated in section 5, a shareholder, shareholder-producer, member or partner, as the case may be, of the group operation by obtaining holdings of not less than 20% in the operation or subsequently acquires holdings of not less than 20% in the operation, and meets the conditions prescribed in section 16;

(3)  a farm operator or a farmer, as the case may be, who, on or after the date contemplated in section 5, possesses holdings of less than 20% in the operation and increases his holdings to not less than 20% or subsequently acquires additional holdings of not less than 20%, and meets the conditions prescribed in section 16.

1982, c. 29, s. 14.