Source: Dairy Farmers of Ontario
Dairy Farmers of Ontario’s (DFO) board has lifted, effective April 5, 2019, the moratorium placed on March 1, 2019, regarding the Parent-to-Child Top-Up policy.
The Parent-to-Child Top-Up policy has been amended to address the situation where a licence is in the name of a corporation or partnership.
Parent-to-Child Top-Up policy: The parent can transfer up to 50 per cent of the their quota, the eligible amount based on the parent’s quota holdings at the time of their first transfer.
Where quota is held with a licence in the name of a corporation, the maximum percentage of a parent’s quota eligible for transfer shall be determined by calculating 50 per cent of the parent’s total common and-or voting beneficial interest in the corporation held at the time of the first transfer and for a minimum period of five years immediately prior to the first transfer;
Where quota is held with a licence in the name of a partnership, the maximum percentage of the parent’s quota eligible for transfer shall be determined by calculating 50 per cent of the parent’s total equity partnership interest at the time of their first transfer and for a minimum period of five years immediately prior to the first transfer.
In addition, some minor changes have been made to the New Entrant Quota Assistant Program policy.
New Entrant Quota Assistance Program policy:
Application packages must contain all required DFO approvals, other than with respect to NEQAP. Applications will not be accepted if they are contingent on any additional DFO approvals;
DFO staff will do an initial review of all selected application packages to ensure the application meets DFO policy requirements.