Canadian Agricultural Loans Regulations

16 (1) A lender shall register every loan with the Minister, in a form approved by the Minister,

• (a) in the case of a loan made for any purpose set out in any of paragraphs 4(1)(a) to (c), (g) and (h) and 6(1)(a), (d) and (e) of the Act, within 365 days after the date on which the first disbursement is advanced; and

• (b) in the case of loans made for any purpose set out in paragraph 4(1)(d), (e) or (f) or 6(1)(b) or (c) of the Act, within 365 days after the date on which the first disbursement is advanced.

(2) The Minister shall extend the time within which a lender may register the loan on the written application of the lender if the application is received before the expiration of the time set out in paragraph (1)(a) or (b), as the case may be, and the borrower is not in default.