Agricultural Marketing Programs Regulations
3 (1) For the purposes of paragraph 19(1)(c) of the Act, the administrator’s percentage is 3% if they have not completed at least one program year.
(2) For the purposes of paragraph 19(1)(c) of the Act, the administrator’s percentage shall be calculated using the five most recently completed program years, or if an administrator has completed at least one program year but less than five program years, using all of the completed program years, in accordance with the following formula:
(A / B) × 100
where
- A
- is the sum of the total of the outstanding principal balances of producers who are in default in each of those program years calculated 10 months after the completion of each program year; and
- B
- is the sum of the total principal amount advanced in each of those program years.
(3) For the purposes of element A, calculation of the outstanding principal balances shall exclude amounts owed by a deceased producer who is in default or by a producer who is in default and who has been deemed legally incapable of making decisions.
- SOR/2006-293, s. 3
- SOR/2016-7, s. 3
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