Livestock Feed Assistance Act

Marginal note:Power to purchase and sell feed grain

• 7 (1) The Minister, when authorized by the Governor in Council, may

  • (a) buy or enter into contracts or agreements for the purchase of feed grain;

  • (b) within the provisions of any licence obtained in the Minister’s name authorizing the Minister to import feed grain, buy or enter into contracts or agreements for the purchase of feed grain outside Canada and import that feed grain into Canada; and

  • (c) take delivery of, ship, store, handle and, subject to subsection (2), sell or otherwise dispose of feed grain in Eastern Canada or British Columbia and enter into contracts for the delivery, shipping, storage, handling, insurance and sale or other disposition of that feed grain.

• Marginal note:Authorization

  (1.1) On the advice of the Minister that an emergency requiring action under subsection (1) exists, the Governor in Council may authorize the Minister to act under that subsection and may specify terms and conditions in connection therewith.

• Marginal note:Rules concerning sale

  (2) The Minister shall sell or otherwise dispose of feed grain acquired by the Minister pursuant to subsection (1) in accordance with sound commercial practices for such price as the Minister considers reasonable with the object of recovering the costs incurred by the Minister in respect of the feed grain, including the purchase price of the feed grain, costs of handling, storage and transportation thereof and any administration costs applicable to the purchase and sale thereof minus any payments related to the cost of feed grain storage or to the cost of feed grain transportation paid by the Minister to the Minister’s own account pursuant to paragraph 6(a) in respect of the feed grain.