S.M. 1998, c. 25

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S.M. 1998, c. 25

THE CROP INSURANCE AMENDMENT ACT

(Assented to June 29, 1998)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:

C.C.S.M. c. C310 amended

1 The Crop Insurance Act is amended by this Act.

2 Section 6 is amended

(a) by adding the following after clause (f):

(f.1) reinsure all or part of its risk under a plan of crop insurance or a contract and enter into reinsurance agreements for that purpose with one or more of the Government of Canada, the Government of Manitoba, the government of any other jurisdiction and any person, whether or not that government or person is in Manitoba or is licensed under The Insurance Act;

(b) by adding the following after clause (g):

(g.1) enter into agreements respecting the use or sale of information and data;

Section 15 is amended by striking out "shall be non-interest bearing" and substituting "may be interest-bearing or non interest-bearing as determined by the Lieutenant Governor in Council".

Subsection 19(1) is amended by striking out "an amount determined to be the cost of administering the Crop Insurance Fund in accordance with subsection 24(1)." and substituting "the cost of administering The Crop Insurance Fund.".

Subsection 20(10) is amended by striking out "make interest free loans to the corporation, to enable the corporation to meet the deficiency" and substituting "make loans to the corporation to enable it to meet the deficiency and such loans may be interest-bearing or non interest-bearing as determined by the Lieutenant Governor in Council".

Subsection 21(4) is amended by striking out "without interest" and substituting "and may be interest-bearing or non interest-bearing".

Sections 22 and 23 are repealed and the following is substituted:

Reinsurance agreements

With the approval of the Lieutenant Governor in Council, the minister may, on behalf of the Government of Manitoba, enter into a reinsurance agreement for the provision or purchase of reinsurance of all or part of the corporation's risk under a plan of crop insurance or a contract, with one or more of the corporation, the Government of Canada, the government of any other jurisdiction and any person, whether or not that government or person is in Manitoba or is licensed under The Insurance Act.

Section 24 is amended in the part preceding clause (a) by adding "or the chairperson of the corporation" after "the minister".

Coming into force

9 This Act is retroactive and is deemed to have come into force on April 1, 1998.