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

Section 8 Disposition versions

1982-09-01

8. If a farmer or a group operation having received a grant disposes of the farm that he or it operates, by alienation, discontinuance of lease or otherwise, and acquires or, as the case may be, leases another farm and proves to the Bureau that the operation of the new farm can ensure continuity to the establishment and may even improve it, the right of the farmer or group to the grant no longer applies on the date he or it disposes of the farm on which he or it was established, in respect of that part of the loan in respect of which the grant is applicable. This right is then transferred in respect of any other loan that he or it has obtained, or for which he or it has assumed payment, by succession or otherwise, following or upon the acquisition or leasing of the new farm, provided that the loan meets the same requirements for obtention or assumption as those prescribed for the loan in respect of which the grant was made and that the period provided under section 5 or, as the case may be, in section 15 has not expired.

The grant then becomes payable, for the time remaining to run in the period, in respect of the same amount as that contemplated in the first paragraph without, however, exceeding the aggregate of all the other loans obtained or assumed under the conditions prescribed in that paragraph.

1982, c. 29, s. 8.