Part V MiscellaneousU.K.

64 Grants towards fulfilling guarantees of bank loans to agriculture or horticulture businesses.U.K.

(1)Section 9 of the M1Agriculture and Horticulture Act 1964 (grants towards fulfilling guarantees of bank loans to horticulture businesses) shall not apply in relation to any guarantee given after 31st March 1966 (but the provisions of this section shall apply in relation to such guarantees).

(2)The Minister may, in such manner and subject to such conditions as he may with the approval of the Treasury determine, make a grant to any person in respect of expenditure incurred by that person in fulfilling a guarantee given by him as security for a loan made in the course of a banking business to a person requiring the loan for the purposes of an agriculture or horticulture business carried on by him, where—

(a)the guarantee was given during the period of three years beginning on 1st April 1966, or

(b)the guarantee was given in the year ending on 31st March 1966 and the grant could not be given under the said section 9 of that Act of 1964 and is given after the end of the said year.

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)The aggregate of sums paid by way of grant under this section F2... in the year ending on 31st March 1968 or in any subsequent year shall be subject to a limit of three hundred thousand pounds increased, where the aggregate of sums so paid in the last preceding year falls short of the limit for that year (whether it be the limit under this or the last foregoing subsection), by the amount of the difference or six hundred thousand pounds, whichever is the less.

F3(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4

F5(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8)In this section—

• “agriculture or horticulture business” means either—

(a)a business which consists, or so much of a larger business as consists, of the producing in the United Kingdom of agricultural or horticultural produce for sale or of the producing in the United Kingdom of agricultural or horticultural produce for sale and its storage, preparation for market or transport, or

(b)the activities of any co-operative association so far as they consist of assisting members in the production in the United Kingdom of agricultural or horticultural produce for sale by the provision of buildings, equipment, facilities or services required in connection therewith, or

(c)a co-operative marketing business;

• “agricultural or horticultural produce” means anything (whether live or dead) produced in the course of agriculture and without prejudice to the generality of that definition the expression “agricultural or horticultural produce” shall include all horticultural produce as defined in section 8(1) of the M2Horticulture Act 1960;

• “co-operative marketing business” means a business carried on by a co-operative association and consisting of, or so much of a larger business so carried on as consists of, the storage, preparation for market or marketing, for the sole or primary purpose of assisting members engaged in the production in the United Kingdom of agricultural or horticultural produce for sale, of agricultural or horticultural produce produced by members of the association;

• “co-operative association” means—

(a)a registered society as defined in section 74 of the M3Industrial and Provident Societies Act 1965 or a society registered under the Industrial and Provident Societies Acts (Northern Ireland) 1893 to 1963, or

(b)any body which (whether incorporated or not) has a written constitution from which the Minister is satisfied, having regard to any provision as to the manner in which profits of the body are to be applied for the benefit of its members and all other relevant provisions, that the body is in substance a co-operative association;

• “the Minister” means the Minister of Agriculture, Fisheries and Food;

• “year” means a period of twelve calendar months.

[F6(8A)For the purposes of the definitions in subsection (8) above of “co-operative marketing business" and “co-operative association", the members of a co-operative association shall be deemed to include the members of any other co-operative association which—

(a)is a member of the first mentioned association, or

(b) is deemed to be such a member by virtue of paragraph ( a ) above or this paragraph. ]

(9)This section extends to Northern Ireland.