Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

“Advisory Board” means the Board appointed under section 11;

“agricultural commodity” means any natural or processed product of agriculture;

“board” means a board established under the Natural Products Act;

“local board”Repealed: 1999, c.N-1.2, s.115.

“Minister” means the Minister of Agriculture and Aquaculture and includes any person designated by the Minister to act on the Minister’s behalf.

1996, c.25, s.2; 1999, c.N-1.2, s.115; 2000, c.26, s.11; 2007, c.10, s.8.

2(1)The Minister, for and on behalf of Her Majesty in right of the Province, may, when authorized to do so by the Lieutenant-Governor in Council,

(a)enter into agreements with Her Majesty in right of Canada as represented by the Minister of Agriculture for Canada and with producers, or

(b)enter into agreements with Her Majesty in right of Canada as represented by the Minister of Agriculture for Canada,

to provide for a price stabilization scheme for an agricultural commodity produced in the Province.

2(2)An agreement referred to in subsection (1)

(i)the agricultural commodity or agricultural commodities to which the price stabilization scheme applies,

(ii)the basis of eligibility of producers to participate in the scheme and the procedure by which they may register in the scheme,

(iii)the circumstances in which a stabilization payment will be made to a producer, the method of determining the amount of a stabilization payment, and the manner in which such a payment will be made,

(iv)the maximum volume of production in respect of which a stabilization payment may be made to any producer,

(v)the method of determining the support price and the market price of the agricultural commodity in question,

(vii)the method of determining the level of premiums to be paid, which level must be such as will make the price stabilization scheme self-sustaining,

(xi)the duration of the agreement and the conditions under which a producer who has registered may opt out, and

(b)may contain such further terms and conditions as are approved by the Lieutenant-Governor in Council.

3(1)The Minister, for and on behalf of Her Majesty in Right of the Province may, when authorized to do so by the Lieutenant-Governor in Council enter into agreements with boards to provide for a price stabilization scheme for an agricultural commodity produced in the Province.

3(2)The agreement referred to in subsection (1)

(i)the agricultural commodity or agricultural commodities to which the price stabilization scheme applies,

(ii)the basis of eligibility of producers to participate in the scheme and the procedure by which they may register in the scheme,

(iv)the maximum volume of production in respect of which a stabilization payment may be made to any producer,

(v)the method of determining the support price and the market price of the agricultural commodity in question,

(vii)the method of determining the level of premiums to be paid, which level must be such as will make the price stabilization scheme self-sustaining,

(xi)the duration of the agreement and the conditions under which a producer who has registered may opt out,

(b)may stipulate that stabilization payments are limited to the portion of the production of an agricultural commodity that corresponds to the volume of that commodity determined by the Minister to be consumed in the Province, and, if an agreement so stipulates, the agreement shall specify the method of determining that portion;

(c)shall specify, for the purposes of the agreement, the powers and duties of the board;

(d)shall provide for the amount of remuneration to be paid to a board for administrative costs; and

(e)may contain such further terms and conditions as are approved by the Lieutenant-Governor in Council.

3(3)Under an agreement, the share of the premiums to be paid by the Province may not, in any given year, exceed five per cent of the average aggregate market value of the agricultural commodity to which the agreement relates, or of such related group of agricultural commodities as is described in the agreement for the purpose of this subsection, sold by participating producers during that year and the two preceding years.

1999, c.N-1.2, s.115.

4Where an agreement is entered into under section 3 in respect of an agricultural commodity, there shall be established in the Consolidated Fund a stabilization account for that commodity.

5There shall be paid into the Consolidated Fund and credited to the stabilization account for a particular agricultural commodity all amounts received by Her Majesty in right of the Province under an agreement in respect of that agricultural commodity as or on account of payments of premiums and interest.

6(1)There shall be credited to a stabilization account and charged to the Consolidated Fund, as of the end of each quarter, an amount equal to the Province’s share of the premiums under the agreement to which that stabilization account relates, reduced in proportion to any unpaid portion of the share of the premiums payable by the producers.

6(2)Notwithstanding subsection (1), the Minister of Finance may credit and charge the amounts to be credited and charged under subsection (1) at such later time as the Minister of Finance may fix.

7The Minister of Finance may authorize, in accordance with such terms and conditions and at such rates as the Minister of Finance may fix, after considering any advice furnished to the Minister of Finance by the Minister, the payment of interest on the amount that represents the producer’s share of any accumulated surplus and such interest shall be credited to the stabilization account and charged to the Consolidated Fund.

8There shall be paid out of the Consolidated Fund and charged to the stabilization account for a particular commodity all amounts paid under an agreement in respect of that agricultural commodity as or on account of stabilization payments.

9(1)Where the amount standing to the credit of a stabilization account in the Consolidated Fund is not sufficient for the payment of stabilization payments required to be charged to the stabilization account, the Minister of Finance, when requested to do so by the Minister, may authorize an advance to the stabilization account from the Consolidated Fund of an amount sufficient to meet the payments required to be made in the operation of the agreement.

9(2)An advance made under subsection (1) shall be credited to the stabilization account and repaid in such manner and on such terms and conditions, including the payment of interest, as the Minister of Finance may fix, after considering any advice furnished to the Minister of Finance by the Minister.

9(3)An amount advanced to a stabilization account under subsection (1) and any interest thereon shall be included in any deficit estimated for the purpose of the stabilization account.

9(4)The repayment of an amount advanced under subsection (1) shall be charged to the stabilization account.

10The Minister is responsible for the administration of this Act and may designate persons to act on behalf of the Minister.

11(1)The Lieutenant-Governor in Council shall appoint an Advisory Board consisting of a chairman and five additional members to advise the Minister in matters relating to agricultural commodity price stabilization schemes.

11(2)A member of the Advisory Board shall hold office for three years from the date of appointment.

11(3)Notwithstanding subsection (2), in the case of members first appointed under this section, other than the Chairman, one shall be appointed for two years, two shall be appointed for three years and two shall be appointed for four years.

11(4)The members of the Advisory Board shall be paid a per diem allowance to be fixed by the Lieutenant-Governor in Council and shall be paid reasonable and necessary expenses incurred by them in the performance of their duties.

12This Act or any provision of it comes into force on a day or days to be fixed by proclamation.