A-18.1, r. 9 - Regulation respecting the Forest Management Funding Program

Section 2 Disposition versions

2012-09-01

2. In this Regulation,

“forest producer” means a certified forest producer under section 130 of the Sustainable Forest Development Act (chapter A-18.1); (producteur forestier)

“forest production unit” means the area of all the production units owned or operated by a forest producer or a person associated with the project.

A forest producer includes

(1)  a natural person or a legal person or a body which, without being a forest producer, is composed of at least 1 forest producer or 1 person holding an interest in a forest producer; and

(2)  a natural person who, without being a forest producer, acquires at least a 20% interest in a forest producer and subsequently any shares in the forest producer; (unité de production forestière)

“hypothecary interest rate” means,

(1)  in the case of a lender who offers such a rate, the interest rate on a closed-term loan secured by a first hypothec on a single-family dwelling; and

(2)  in the case of a lender who does not offer such a rate, the interest rate on a closed-term loan secured by a first hypothec on a single-family dwelling from the National Bank of Canada, the Royal Bank of Canada, the Canadian Imperial Bank of Commerce or the Bank of Montreal, or the interest rate recommended for such a loan by the Fédération des caisses Desjardins du Québec to its affiliated unions; (taux d’intérêt hypothécaire)

“interim interest rate“ means the prime lending rate plus 1/2%; (taux d’intérêt intérimaire)

“lender” means

(1)  a savings and credit union governed by the Act respecting financial services cooperatives (chapter C-67.3);

(2)  the National Bank of Canada, the Royal Bank of Canada, the Canadian Imperial Bank of Commerce, the Bank of Montreal, the Bank of Nova Scotia, the Toronto Dominion Bank or the Laurentian Bank of Canada;

(3)  a person to whom all or part of the purchase price of forest assets, interests in a forest producer or non-voting or preferred shares in a forest producer is owed; and

(4)  any other person authorized by the agency under subparagraph 3 of the first paragraph of section 22 of the Act respecting La Financière agricole du Québec (chapter L-0.1) to act as a lender; (prêteur)

“loan” means a loan, including a loan taken over by another borrower and all or part of the purchase price of forest assets, interests in a forest producer or non-voting or preferred shares in a forest producer, as the case may be, covered by a loan granted by a lender under this Program, the Forest Management Funding Program (O.C. 384-97, 97-03-26), the Act to promote forest credit by private institutions (chapter C-78.1) or the Forestry Credit Act (chapter C-78); (prêt)

“prime lending rate” means the applicable prime lending rate among

(1)  the prime lending rate of a lender who offers a prime rate;

(2)  in the case of a savings and credit union affiliated with the Fédération des caisses Desjardins du Québec, the prime rate of the Caisse centrale Desjardins; and

(3)  in all other cases, the prime rate offered by the majority of the following financial institutions: the Caisse centrale Desjardins, the National Bank of Canada, the Royal Bank of Canada, the Canadian Imperial Bank of Commerce and the Bank of Montreal. (taux d’intérêt préférentiel)

O.C. 257-2006, s. 2.