M-36 - Act to promote the development of agricultural operations

Section 16.1 Disposition versions

1986-08-20

16.1. The Minister may, on the recommendation of the Bureau, make a grant not exceeding $15 000 to an agricultural operations corporation, an agricultural operations partnership, an agricultural operations cooperative or a group of persons contemplated in sections 14 and 15 which, from 1 July 1986, acquires or leases an economic farm to establish itself thereon provided one of the shareholders, partners, shareholder-producers or members is a farm operator or a farmer who:

(1)  on the date of the establishment, is not less than eighteen nor more than forty years of age, has as his principal occupation the operation of the farm and holds 20% or more,

(a)  in the case of an agricultural operations corporation, of the shares of each class issued by the corporation;

(b)  in the case of an agricultural operations partnership, of the interests in the partnership;

(c)  in the case of an agricultural operations cooperative, of the ordinary shares or common shares, as the case may be, issued by the cooperative;

(d)  in the case of joint operators, of the interests in the economic farm constituted of the aggregate of the farms of which they are owners or lessees;

(e)  in the case of undivided owners of an economic farm, of the rights of ownership in the farm;

(2)  on the date of receipt by the Bureau of the application in writing for the grant, meets the requirements prescribed by regulation with respect to his farming experience and vocational training and meets the requirements prescribed in paragraph 3 of the first paragraph of section 5.1.

The second paragraph of section 5.1, adapted as required, applies to this section.

1986, c. 54, s. 5.