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

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2. To reduce financing costs for those establishing themselves on farms and thereby encourage the coming generation of farmers, the Minister of Agriculture, Fisheries and Food, on the recommendation of the Bureau, may make a grant toward the interest on a loan obtained or payment of which is assumed through succession or otherwise by a farmer or group operation for the purposes of his or its establishment, provided that the farmer or the group meets the conditions provided in section 6 or, as the case may be, section 7. Where such an establishment occurs upon the parcelling out of a farm, as defined by regulation, that part of the farm which is not part of the establishment must itself be economic.
No grant under this section is applicable in respect of interest borne, pursuant to the Act under which the loan was granted or the deed evidencing the loan, by any instalment in principal or interest not paid at maturity.
1982, c. 29, s. 2.