BILL NO. 85
(as passed)
3rd Session, 61st General Assembly
Nova Scotia
60 Elizabeth II, 2011
Agriculture and Rural Credit Act
(amended)
CHAPTER 49 OF THE ACTS OF 2011
The Honourable John MacDonell
Minister of Agriculture
First Reading: November 8, 2011 (LINK TO BILL AS INTRODUCED)
Second Reading: November 14, 2011
Third Reading:November 28, 2011
Royal Assent: December 15, 2011
An Act to Amend Chapter 7
of the Revised Statutes, 1989,
the Agriculture and Rural Credit Act
Be it enacted by the Governor and Assembly as follows:
1 Section 2 of Chapter 7 of the Revised Statutes, 1989, the Agriculture and Rural Credit Act, is amended by
(a) relettering clause (a) as (aa) and adding immediately preceding that clause the following clause:
- "agri-rural business" means a business that primarily produces or adds value to inputs to or outputs from farming operations;
(b) striking out "and Marketing" in the second line of clause (c); and
(c) striking out "and Marketing" in the second line of clause (e).
2 (1) Subsection 3(1) of Chapter 7 is repealed and the following subsections substituted:
(1A) Directors shall be appointed by the Governor in Council to hold office during pleasure for a term not exceeding five years.
(2) Subsection 3(2) of Chapter 7 is amended by striking out "members" in the second and in the third lines and substituting in each case "directors".
(3) Subsection 3(3) of Chapter 7 is repealed and the following subsection substituted:
(4) Subsection 3(4) of Chapter 7 is amended by striking out "members" in the first line and substituting "directors".
(5) Subsection 3(5) of Chapter 7 is amended by striking out "Three members" in the first line and substituting "Two thirds of the directors serving at any time".
3Section 5 of Chapter 7 is amended by adding "and all such officers, staff and employees shall report to the Minister" immediately after "Board" in the last line.4 Section 7 of Chapter 7, as amended by Chapter 24 of the Acts of 2004, is further amended by
(a) adding immediately after clause (a) the following clauses:
(ab) to make loans to a borrower for the purpose of paying out or refinancing existing loans of that borrower;
(b) adding immediately after clause (b) the following clause:
(c) adding "and development" immediately after "production" in the second line of clause (g);
(d) striking out ", agricultural machinery or equipment" in the second line of clause (h) and substituting "or agricultural personal property"; and
(e) adding immediately after clause (h) the following clause:
5 Clause 8(l) of Chapter 7 is amended by adding "acquire and" immediately after "to".
6 Section 10 of Chapter 7 is amended by striking out "and on behalf of the Board under its corporate seal by the Chairman or Vice-chairman of the Board and the Secretary" in the last three lines and substituting "officers of the Board as designated by the directors of the Board and approved by the Deputy Minister of the Department".
7 Section 12 of Chapter 7 is amended by striking out ", not later than the thirty-first day of July in each year," in the first two lines.
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2011 Crown in right of Nova Scotia. Created December 14, 2011. Send comments to legc.office@novascotia.ca.
