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.
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
This Act is not applicable to Greenland nor the Faroe Islands.
Title:
Act on government guarantee for farming debt- rescheduling (No. 268 of 1993).
Country:
Denmark
Type of document:
Legislation
Date of text:
1993
ECOLEX regions:
ECOLEX URL:
Files:
Repealed:
No
Amended by