Farm Debt Secured Creditors Notice Regulations

SOR/86-814

FARM DEBT REVIEW ACT

Farm Debt Secured Creditors Notice Regulations

REGULATIONS RESPECTING THE MANNER IN WHICH A SECURED CREDITOR IS TO GIVE NOTICE TO A FARMER OF HIS INTENTION TO REALIZE ON A SECURITY

SHORT TITLE

1. These Regulations may be cited as the Farm Debt Secured Creditors Notice Regulations.

INTERPRETATION

2. In these Regulations,

"Act" means the Farm Debt Review Act; (Loi)

"adult" means a person who is or appears to be of the age of majority; (adulte)

"farmer's residence" means

(a) in the case of a farmer who is an individual, the place where the farmer lives,

(b) in the case of a farmer that is a partnership, the principal place of business of the partnership, and

(c) in the case of a farmer that is a corporation or cooperative association, the head office of that corporation or cooperative. (domicile de l'agriculteur)

NOTICE

3. (1) Subject to section 4, the notice required to be given by a secured creditor to a farmer under subsection 22(1) of the Act shall be given, in the case of an individual farmer, by

(a) leaving the notice personally with the farmer or with any adult residing at the farmer's residence;

(b) registered mail delivered personally to the farmer or any adult residing at the farmer's residence;

(c) priority post delivered personally to the farmer or any adult residing at the farmer's residence;

(d) telex message sent to the farmer and received personally by the farmer or any adult residing at the farmer's residence; or

(e) facsimile message sent to the farmer and received personally by the farmer or by any adult residing at the farmer's residence.

(2) Subject to section 4, the notice required to be given by a secured creditor to a farmer under subsection 22(1) of the Act shall be given, in the case of a farmer that is a partnership, a corporation or a cooperative association, by

(a) leaving the notice personally with a partner, an officer, a director or an agent, as the case may be, or with any adult residing at the residence of the partner, officer, director or agent;

(b) registered mail delivered personally to a partner, an officer, a director or an agent, as the case may be, or any adult residing at the residence of the partner, officer, director or agent;

(c) priority post delivered personally to a partner, an officer, a director or an agent, as the case may be, or any adult residing at the residence of the partner, officer, director or agent;

(d) telex message sent to a partner, an officer, a director or an agent, as the case may be, and received personally by a partner, an officer, a director or an agent or any adult residing at the residence of the partner, officer, director or agent; or

(e) facsimile message sent to a partner, an officer, a director or an agent, as the case may be, and received personally by a partner, an officer, a director or an agent or any adult residing at the residence of the partner, officer, director or agent. SOR/87-330, s. 1; SOR/89-130, s. 1(E).

4. (1) Where a secured creditor cannot locate the farmer where the farmer is an individual or a partner, officer, director or agent where the farmer is a partnership, corporation or co-operative association in order to give the farmer notice under section 3, the secured creditor may give the notice required under subsection 22(1) of the Act by placing the notice

(a) in a local daily newspaper for three consecutive publishing days;

(b) in a local weekly newspaper for two consecutive publishing days; or

(c) in a prominent area of a local post office for seven consecutive days on which the post office is open.

(2) The notice referred to in subsection (1) shall be placed in a local daily or local weekly newspaper or a local post office serving the area of the last known farmer's residence. SOR/87-330, s. 1.