A-30 - Crop Insurance Act

Section 70.3 Disposition versions

1998-10-21

70.3. Where a protection program for an insured crop is terminated and the parties to an agreement entered into pursuant to section 73 have agreed on the setting up of a replacement program, any surplus or deficit in the insured crop account shall be entered in the replacement program account.

If no replacement program is set up, any surplus or deficit in the insured crop account shall be dealt with in accordance with an agreement entered into by the parties pursuant to section 73 in the year following the expiry date of the program. In the absence of an agreement, the account’s liabilities shall encumber the fund and any surplus or deficit shall be apportioned among insured persons and the Government in proportion to their participation in the account.

1998, c. 53, s. 15.