Through this Act, the Minister of Agriculture and Fisheries shall make arrangements with the Danish Agricultural Mortgage Fund for government guarantees for loans granted to young farmers. Criteria for granting loans include the requirement for first-time farmers of max. 40 years of age holding an inherent education. Furthermore, once subsidies have been received, farmers must within 6 months have residence status on the subsidized land, be the sole owner and managing it as main source of income. The Act consists of 6 Chapters: Lenders (1); Loans (2); Government guarantee (3); Subsidy on loan (4); Administration and penalties (5); Commencement and transitional provisions (6).
Denmark · 1993-09-13