F-1.2 - Act respecting farm financing

Section 4 Disposition versions

1988-08-11

4. For the purposes of this Act, the following persons are considered aspiring farmers:

(1)  any natural person not yet 40 years of age, being the owner or lessee of a farming business which does not allow him to make farming his principal occupation but which, according to an operating plan accepted by the Office which he undertakes to follow, should allow him to do so within the time prescribed by regulation;

(2)  any natural person not yet 40 years of age, being the undivided co-owner of a farming business which does not allow him to make farming his principal occupation but which, according to an operating plan accepted by the Office, should allow him to do so within the time prescribed by regulation, provided that he holds at least 60 % of the rights of ownership in the business and that only one natural person holds the remainder of those rights;

(3)  two natural persons neither of whom is not yet 40 years of age, being the sole undivided co-owners or co-lessees of a farming business which does not allow them to make farming their principal occupation but which, according to an operating plan accepted by the Office which they undertake to follow, should allow them to do so within the time prescribed by regulation.

1987, c. 86, s. 4.