Order No. 829 on purchasing cooperatives for smaller farmers. Country/Territory Denmark Document type Regulation Date 2005 Source FAO, FAOLEX Subject Agricultural & rural development Keyword Special fund Agricultural development Agricultural land Cooperative/producer organization Farming Geographical area Europe, Europe and Central Asia, European Union Countries, North Sea, North-East Atlantic, Northern Europe Entry into force notes Entry into force on 10 September 2005. Abstract The Order’s purpose is to establish a fund available for cooperative purchase available to farmers owning max. 100 hectares or which land value is below DKK 2 800 000 (value as of 1 January 2004). The maximum amount granted is DKK 500 000 (for cooperative members). The Danish Agri-Fish Agency may borrow funds from a purchasing cooperative for dissemination of funds to a joint mechanization association. Should the Treasury have claim in the cooperative, the latter may only borrow with the following conditions indicated in the loan document: the bank undertakes liquidation of the association until the Treasury's debt is repaid (1); the bank waives any individual creditor proceedings against the borrower without prior permission from the Danish Agri-Fish Agency (2); and the loan term may not exceed 5 years and shall be terminable by the association with more than 3 months’ notice. In case of borrowing in foreign currency, the loan shall be converted in hedge guarantee (3). Full text Danish Website www.retsinformation.dk References - Legislation Implements Act on purchasing cooperatives for small farmers in rural areas (No. 15 of 2017). Legislation | Denmark | 1970 (2017) Keyword: Farming, Subsidy/incentive, Internal trade, Smallholders/peasants, Cooperative/producer organization, Agricultural development, Concession, Legal proceedings/administrative proceedings Source: FAO, FAOLEX