| ||This Act establishes Agricultural Financial Services Corporation (AFSC) as a Crown Corporation. The business of AFSC is to provide lending and financial assistance, insurance, as well as compensation for losses or damage relating to agricultural products. Loans, which may be guaranteed, may be made for both agricultural and non-agricultural purposes. In the case of non-agricultural loans, the intent of the latter is to promote the growth of economic development and diversification. Other financing mechanisms include grants and the issuance of local opportunity bonds. Crop, hail, and livestock price insurance products are offered by the AFSC, as is compensation for wildlife crop damage. The legislation also mandates the operation of a Farm Income Disaster Program and Canadian Agricultural Income Stabilisation Program.
Orders in Council
For more information about this act, contact Larry Langager.