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Act on government guarantee for farming debt- rescheduling (No. 268 of 1993).

Country/Territory
Denmark
Document type
Legislation
Date
1993
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Agricultural development Subsidy/incentive Financial agricultural measures Farming
Geographical area
Europe, Europe and Central Asia, European Union Countries, North Sea, North-East Atlantic, Northern Europe
Entry into force notes
The Minister of Agriculture will determine date of entry into force of this Act.
Abstract

This Act provides regulations on loan guarantees for debt rescheduling through the Danish Agriculture Mortgage Fund. Farmers shall be granted such loans on the basis of a 15-year nominal interest rate cash or on a 15-year inflation-indexed rate. The Minister of Agriculture approves Danish Agricultural Mortgage Fund fee rates of loans qualifying for warranty under this Act. Applicants for this loan are required to operate in agriculture as main occupation, to have a total total debt amounting to at least 70% of the total asset, and that can prove any re-prioritization of inflation-indexed and any creditor scheme applied is economically viable.

Full text
Danish
Website
www.retsinformation.dk

References - Legislation

Amended by

Act amending various laws (No. 431 of 2005).

Legislation | Denmark | 2005

Keyword: Governance, Legal proceedings/administrative proceedings, Registration, Data collection/reporting

Source: FAO, FAOLEX