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Farm Income Protection Act (S.C. 1991, c. 22)

Act current to 2024-05-01 and last amended on 2013-03-01. Previous Versions

Accounts (continued)

Advances

Marginal note:Advances out of Consolidated Revenue Fund

  •  (1) Where the amount standing to the credit of

    • (a) a Revenue Insurance Fund, or

    • (b) any account that is established by the laws of a province in respect of a revenue insurance program or gross revenue insurance program to be administered by the province

    is insufficient for the payment of amounts required to be charged to that Fund or account, the Minister of Finance may, when requested to do so by the Minister, authorize an advance to that Fund or account from the Consolidated Revenue Fund of an amount sufficient to meet the deficit or any portion of the deficit to be advanced by Canada under the terms of the agreement under which the Revenue Insurance Fund or account is established.

  • Marginal note:Advances payable

    (2) An amount advanced under subsection (1) shall be credited to the Revenue Insurance Fund or account referred to in that subsection and repaid in such manner and on such terms and conditions, including the payment of interest, as the Minister of Finance may fix, after considering any advice furnished by the Minister.

  • Marginal note:Advance included in deficit

    (3) An amount advanced to a Revenue Insurance Fund or account referred to in subsection (1) and any interest thereon shall be included in any deficit estimated for the purpose of that Fund or account.

  • Marginal note:Repayment

    (4) The repayment of an amount advanced under subsection (1) shall be charged to the Revenue Insurance Fund or other account.

Regulations

Marginal note:Regulations

  •  (1) The Governor in Council may make regulations prescribing anything that under this Act is to be prescribed and any regulations that the Governor in Council deems necessary for carrying out the purposes and provisions of this Act, including, without limiting the generality of the foregoing, regulations

    • (a) respecting any of the provisions of an agreement referred to in section 5, 7 or 8 and requiring the inclusion in an agreement of additional provisions; and

    • (b) respecting the protection to be provided for the income of producers of those agricultural products or classes of products to which an agreement does not apply.

  • Marginal note:Amendment of regulations

    (2) No amendment of any regulation respecting an agreement shall be made until the Minister has consulted with each province that is a party to the agreement.

Payments Out of Consolidated Revenue Fund

Marginal note:Contributions or advances

 All payments on account of contributions or advances for the purposes of this Act or the regulations shall be paid out of the Consolidated Revenue Fund on the certificate of the Minister, but all such payments are subject to this Act and the regulations and to the observance of the covenants and undertakings contained in the agreement under which the payment is made.

Reports to Parliament

Marginal note:Review of Act

 A review of the operation of this Act shall be completed

  • (a) on any day before April 1, 1996, and

  • (b) on the expiration of every fifth year after that day

by the Minister, who may for the purpose of that review consult with representatives of such organizations as the Minister considers appropriate, and the Minister shall cause a report of the results of the review to be laid as soon as possible before each House of Parliament.

Marginal note:Annual report

 The Minister shall, as soon as possible after the termination of each fiscal year, cause to be laid before each House of Parliament a report respecting the operations for that year of the agreements made under this Act and the payments made to the provinces under each agreement.

Marginal note:Appointment of Auditor General

 The Auditor General may be appointed for the purposes of auditing the financial statements respecting any program established under an agreement.

Transitional

Marginal note:Transitional

  •  (1) Subject to subsection (3), any agreement entered into pursuant to section 13 of the Agricultural Stabilization Act that is in effect before the coming into force of this Act shall be deemed to have been entered into pursuant to this Act and shall, subject to this Act and any regulations made thereunder, have effect in accordance with its terms and conditions as if it had, by its terms, established a revenue insurance program and as if any reference in the agreement to the Agricultural Stabilization Board were a reference to the Minister.

  • Marginal note:Idem

    (2) Subject to subsection (3), any agreement entered into pursuant to the Crop Insurance Act that is in effect before the coming into force of this Act shall be deemed to have been entered into pursuant to this Act and shall, subject to this Act and any regulations made thereunder, have effect in accordance with its terms and conditions.

  • Marginal note:Idem

    (3) This Act and any regulations made thereunder apply in respect of agreements entered into under the Agricultural Stabilization Act or the Crop Insurance Act for periods beginning on or after April 1, 1991.

Marginal note:Transitional

  •  (1) The Agricultural Stabilization Act as it read immediately before the coming into force of this Act, and any regulations made thereunder, continue to apply

    • (a) in respect of any named commodity within the meaning of paragraph (c) or (d) of the definition “named commodity” in subsection 2(1) of that Act, if that named commodity was marketed during the crop year in respect of that named commodity beginning in the 1990 calendar year;

    • (b) in respect of wool, if the wool was marketed during the 1990 calendar year; and

    • (c) in respect of industrial milk and industrial cream in relation to which a percentage of the base price was prescribed under paragraph 10(1)(a) of that Act, during the fiscal year ending on March 31, 1992.

  • Marginal note:Idem

    (2) The Western Grain Stabilization Act as it read immediately before the coming into force of this Act, and any regulations made thereunder, continue to apply in respect of grain marketed during the crop year beginning on August 1, 1990 and ending on July 31, 1991.

  • Marginal note:Idem

    (3) For greater certainty, no stabilization payment is payable under the Western Grain Stabilization Act as it read immediately before the coming into force of this Act, or under any contract relating to or arising from that Act, in respect of any crop year beginning on or after August 1, 1991.

Marginal note:Western Grain Stabilization Account

  •  (1) The Western Grain Stabilization Account established in the accounts of Canada by the Western Grain Stabilization Act, as that Act read immediately before the coming into force of this Act, is hereby continued until such day as may be fixed pursuant to subsection (3).

  • Marginal note:Interest

    (2) The Minister of Finance may continue to calculate, in accordance with such terms and conditions and at such rates as the Minister of Finance may fix, after considering any advice furnished by the Minister, interest on the amount standing to the credit of the Western Grain Stabilization Account, and that interest shall be included in the estimated deficit of that Account.

  • Marginal note:Closing of Account

    (3) The Governor in Council may, by order, fix the day on which the Western Grain Stabilization Account continued pursuant to subsection (1) shall be closed.

Consequential Amendment

 [Amendment]

Repeal

 [Repeals]

Coming into Force

Marginal note:Coming into force

  •  (1) Subject to subsection (2), this Act shall come into force or be deemed to have come into force on April 1, 1991.

  • Marginal note:Idem

    (2) Subject to this Act, the determination of any amount payable under a program established under an agreement after April 1, 1991 in respect of a producer may be based, in whole or in part, on income and other information declared by the producer for the purposes of the Income Tax Act in respect of the taxation year of that producer, within the meaning of that Act, ending on or before December 31, 1990.

 

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