﻿<?xml version="1.0" encoding="utf-8"?><Regulation lims:pit-date="2007-10-01" hasPreviousVersion="true" lims:lastAmendedDate="2007-10-01" lims:current-date="2019-06-21" lims:inforce-start-date="2007-10-01" lims:fid="734990" lims:id="734990" gazette-part="II" regulation-type="SOR" xml:lang="en" in-force="yes" xmlns:lims="http://justice.gc.ca/lims"><Identification lims:inforce-start-date="2007-10-01" lims:fid="734991" lims:id="734991"><InstrumentNumber>SOR/2007-201</InstrumentNumber><RegistrationDate><Date><YYYY>2007</YYYY><MM>9</MM><DD>18</DD></Date></RegistrationDate><ConsolidationDate lims:inforce-start-date="2007-10-01"><Date><YYYY>2019</YYYY><MM>6</MM><DD>22</DD></Date></ConsolidationDate><EnablingAuthority lims:inforce-start-date="2007-10-01" lims:fid="734993" lims:id="734993"><XRefExternal reference-type="act" link="B-1.01">BANK ACT</XRefExternal></EnablingAuthority><LongTitle lims:inforce-start-date="2007-10-01" lims:fid="734994" lims:id="734994">Agricultural Product Priority Claim (Banks) Regulations</LongTitle><RegulationMakerOrder><RegulationMaker>P.C.</RegulationMaker><OrderNumber>2007-1348</OrderNumber><Date><YYYY>2007</YYYY><MM>9</MM><DD>18</DD></Date></RegulationMakerOrder></Identification><Order lims:inforce-start-date="2007-10-01" lims:fid="734995" lims:id="734995"><Provision lims:inforce-start-date="2007-10-01" lims:fid="734996" lims:id="734996" format-ref="indent-0-0" language-align="yes" list-item="no"><Text>Her Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to subparagraph 427(7)(b)(ii)<FootnoteRef idref="fn_4008_hq_2616">a</FootnoteRef> and section 978<FootnoteRef idref="fn_4008_hq_2617">b</FootnoteRef> of the <XRefExternal reference-type="act" link="B-1.01">Bank Act</XRefExternal><FootnoteRef idref="fn_4008_hq_2618">c</FootnoteRef>, hereby makes the annexed <XRefExternal reference-type="regulation" link="SOR-2007-201">Agricultural Product Priority Claim (Banks) Regulations</XRefExternal>.</Text><Footnote id="fn_4008_hq_2616" placement="page" status="official"><Label>a</Label><Text>S.C. 1997, c. 15, s. 47(1)</Text></Footnote><Footnote id="fn_4008_hq_2617" placement="page" status="official"><Label>b</Label><Text>S.C. 2005, c. 54, s. 135</Text></Footnote><Footnote id="fn_4008_hq_2618" placement="page" status="official"><Label>c</Label><Text>S.C. 1991, c. 46</Text></Footnote></Provision></Order><Body lims:inforce-start-date="2007-10-01" lims:fid="734997" lims:id="734997"><Heading lims:inforce-start-date="2007-10-01" lims:fid="734998" lims:id="734998" level="1"><TitleText>Prescribed Amount</TitleText></Heading><Section lims:inforce-start-date="2007-10-01" lims:lastAmendedDate="2007-10-01" lims:fid="734999" lims:id="734999"><Label>1</Label><Text>For the purpose of subparagraph 427(7)(b)(ii) of the <XRefExternal reference-type="act" link="B-1.01">Bank Act</XRefExternal>, the prescribed amount is the amount determined by the formula</Text><FormulaGroup lims:inforce-start-date="2007-10-01" lims:fid="735000" lims:id="735000"><Formula lims:inforce-start-date="2007-10-01" lims:fid="735001" lims:id="735001"><FormulaText>A × B</FormulaText></Formula><FormulaConnector>where</FormulaConnector><FormulaDefinition lims:inforce-start-date="2007-10-01" lims:fid="735002" lims:id="735002"><FormulaTerm>A</FormulaTerm><Text>is the value of the most recent annual Farm Product Price Index for Canada (the “annual Index”) published by Statistics Canada at the time the bankruptcy order or claim is made; and</Text></FormulaDefinition><FormulaDefinition lims:inforce-start-date="2007-10-01" lims:fid="735003" lims:id="735003"><FormulaTerm>B</FormulaTerm><Text>is equal to</Text><FormulaParagraph lims:inforce-start-date="2007-10-01" lims:fid="735004" lims:id="735004"><Label>(a)</Label><Text>$1,322, if the annual Index has not been adjusted or re-established on a revised base after April 25, 2001, or</Text></FormulaParagraph><FormulaParagraph lims:inforce-start-date="2007-10-01" lims:fid="735005" lims:id="735005"><Label>(b)</Label><Text>for each adjustment or re-establishment of the annual Index on a revised base after April 25, 2001, the amount, rounded up to the nearest dollar, determined by the formula</Text><FormulaGroup lims:inforce-start-date="2007-10-01" lims:fid="735006" lims:id="735006"><Formula lims:inforce-start-date="2007-10-01" lims:fid="735007" lims:id="735007"><FormulaText>C × D/E</FormulaText></Formula><FormulaConnector>where</FormulaConnector><FormulaDefinition lims:inforce-start-date="2007-10-01" lims:fid="735008" lims:id="735008"><FormulaTerm>C</FormulaTerm><Text>is, for the first adjustment or re-establishment, $1,322, and for each subsequent adjustment or re-establishment, the value that was determined for B for the previous adjustment or re-establishment,</Text></FormulaDefinition><FormulaDefinition lims:inforce-start-date="2007-10-01" lims:fid="735009" lims:id="735009"><FormulaTerm>D</FormulaTerm><Text>is the value of the most recent annual Index immediately before the adjustment or re-establishment, and</Text></FormulaDefinition><FormulaDefinition lims:inforce-start-date="2007-10-01" lims:fid="735010" lims:id="735010"><FormulaTerm>E</FormulaTerm><Text>is the value of the most recent annual Index immediately following the adjustment or re-establishment.</Text></FormulaDefinition></FormulaGroup></FormulaParagraph></FormulaDefinition></FormulaGroup></Section><Heading lims:inforce-start-date="2007-10-01" lims:fid="735011" lims:id="735011" level="1"><TitleText>Coming into Force</TitleText></Heading><Section lims:inforce-start-date="2007-10-01" lims:lastAmendedDate="2007-10-01" lims:fid="735012" lims:id="735012"><Label>2</Label><Text>These Regulations come into force on October 1, 2007.</Text></Section></Body></Regulation>