Acts and Regulations

90-27 - Fur Industry Loan

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Current to 1 January 2024
NEW BRUNSWICK
REGULATION 90-27
under the
Agricultural Development Act
(O.C. 90-224)
Filed March 28, 1990
Under section 44 of the Agricultural Development Act, the Lieutenant-Governor in Council makes the following Regulation:
2018-38
1This Regulation may be cited as the Fur Industry Loan Regulation - Agricultural Development Act.
2In this Regulation
“farmer” means a farmer as defined in the General Regulation - Agricultural Development Act;(agriculteur)
“fur industry loan” means a loan advanced by the Board to a farmer engaged in the business of fox or mink fur production for the purpose of meeting operating costs;(prêt à l’industrie de la fourrure)
“production year” means the period of time from the first day of January up to, but not including, the harvesting of fox or mink pelts by a farmer in the same year.(année de production)
3(1)A farmer who on January 31, 1990 is actively engaged in the business of fox or mink fur production and who meets the minimum herd size requirement set out in section 4 in respect of a breeding season set out in section 5 may make an application to the Board for a fur industry loan.
3(2)Notwithstanding subsection (1), no farmer may apply for a fur industry loan unless the farmer met the minimum herd size requirement for the 1989 breeding season.
4(1)A farmer shall have a minimum herd size of twenty-five breeding female foxes or one hundred and twenty-five breeding female mink or a mixed herd of breeding female foxes and mink equivalent to at least twenty-five breeding female foxes.
4(2)Where a farmer has a mixed herd of breeding female foxes and mink, five breeding female mink shall be deemed to be equivalent to one breeding female fox.
5An application for a fur industry loan
(a) in respect of the 1990 breeding season and production year, shall be made on or before March 31, 1990,
(b) in respect of the 1991 breeding season and production year, if funding is available, shall be made on or before a date fixed by the Board, and
(c) in respect of the 1992 breeding season and production year, if funding is available, shall be made on or before a date fixed by the Board.
6(1)Subject to subsection (2), the terms and conditions on which a fur industry loan is to be made are those set out in subsection 3(1) of the General Regulation - Agricultural Development Act and such other terms and conditions the Board may impose that are not inconsistent with those set out in subsection 3(1) of the General Regulation - Agricultural Development Act.
6(2)The interest rate applicable to a fur industry loan shall be nil.
7In the event of a conflict between the provisions of this Regulation and those of the General Regulation - Agricultural Development Act, the provisions of this Regulation prevail.
N.B. This Regulation is consolidated to May 15, 2018.