Document ID: chunk:federal_register_of_legislation:F2022C00406:reg:9:p2
Version: federal_register_of_legislation:F2022C00406
Segment Type: reg
Provision Reference: reg 9 (pt 2/2)
Character Range: 12115–13099

equivalent experience; and
 (g) the first farmer intends to have the farm business as their principal business pursuit.
 (1A) For the purposes of paragraph 9(1)(e), this subsection applies to a first farmer who is seeking a first farmer loan if the first farmer:
 (a) holds the sole or a majority interest in a farm business that involves share farming or farm leasing (or both); and
 (b) has not previously held the sole or a majority interest in an estate in fee simple in land on which primary production aspects of a farm business were being undertaken.

When a first farmer loan must not be granted
 (2) The Corporation must not grant a loan under subsection (1) unless:
 (a) it is satisfied of the matters set out in subsection (1); and
 (b) the loan is made:
  (i) in respect of a farm business that is engaged solely or mainly in producing commodities for constitutional trade or commerce; or
 (ii) for the purpose of encouraging or promoting constitutional trade or commerce.