Agricultural Marketing Programs Regulations
3 (1) The administrator’s percentage mentioned in paragraph 5(3)(g) of the Act is to be calculated in accordance with the formula
((A - B) × 100) / C
where
- A
- is,
(a) for the crop year that begins in 1999, the total of the outstanding principal amounts of advances owed by all the producers in default for the previous completed crop year, calculated on the date specified in the advance guarantee agreement, which date shall be within nine months after the end of the crop year, or
(b) for the crop year that begins in 2000 or after, the total of the outstanding principal amounts of advances owed by all the producers in default for the previous two completed crop years, calculated on the date specified in the advance guarantee agreement, which date shall be within nine months after the end of each respective crop year;
- B
- is the amount determined in accordance with subsection (2);
- C
- is the total of the principal amounts of all advances made to all the producers by the administrator in the previous completed crop year in the case of the crop year that begins in 1999, or the previous two completed crop years for crop years that begin in 2000 or later.
(2) For the purpose of the calculation set out in subsection (1), “B” is the amount calculated in accordance with the formula
((D + E) x E) / F
where
- D
- is the total of all the principal amounts repaid on all settlement agreements by all the producers to the administrator calculated on the date specified in the advance guarantee agreement, for the previous completed crop year or previous two completed crop years, as the case may be;
- E
- is the total of all the principal amounts of settlement agreements owed to the administrator by all the producers that are not in default under those agreements, calculated on the date specified in the advance guarantee agreement, for the previous completed crop year or previous two completed crop years, as the case may be; and
- F
- is the total of all the principal amounts of settlement agreements owed by all the producers to the administrator at the time the settlement agreements came into effect, calculated on the date in the advance guarantee agreement, for the previous completed crop year or previous two completed crop years, as the case may be.
(3) For a crop year that begins in 1999, an administrator whose percentage of the producer’s liability from the previous completed crop year would increase as a result of the calculation in subsection (1), is limited to 50% of the increase so calculated.
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