Act on government guarantee for farming debt- rescheduling (No. 268 of 1993).
Country
Type of law
Legislation
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.
Attached files
Web site
Date of text
Entry into force notes
The Minister of Agriculture will determine date of entry into force of this Act.
Notes
This Act is not applicable to Greenland nor the Faroe Islands.
Repealed
No
Source language
English
Legislation Amendment
No
Original title
Lov om statsgaranti for gældssaneringslån til jordbrugere.
Amended by