Revised Laws of Saint Lucia (2021)

6.   Notice of agricultural charge

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   (1)   Despite sections 3, 4 and 5, any farmer, trader or related business shall, when selling or causing to be sold, any farming stock or additional asset which is subject to an agricultural charge, give to the person buying, or the person effecting the sale of, the farming stock or additional asset, before payment of the purchase price, a written notice which shall be acknowledged by the purchasers or the person effecting the sale signing the original and a copy of the notice, containing the following information—

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      (a)     the name and address of all persons holding an agricultural charge over the farming stock or additional assets to be sold;

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      (b)     the priority of the agricultural charges; and

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      (c)     the amount secured by each agricultural charge.

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   (2)   A farmer, trader or related business, before making or causing to be made, any subsequent sale, shall notify that person of any agricultural charge, which affect the agricultural commodity created by the farmer, trader or related business after the date of the written notice; and such notice shall state the “name” and “address” of the holder of the charge, the priority of the charge and the amount secured by the charge.

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   (3)   Any person who receives a written notice under subsection (1), shall pay the proceeds of the sale to the holders of the agricultural charges in accordance with the written notice and having regard to the priority and amounts stated in the written notice and shall pay the surplus, if any, remaining after making the payments, to the farmer, trader or related business.

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   (4)   Any person who contravenes subsection (3) commits an offence and is liable, on conviction, to the full value of the agricultural charge as specified in the notice.

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   (5)   Any moneys paid out in accordance with subsection (3) shall reduce the liability of the farmer, trader or related business under the agricultural charges created by the farmer, trader or related business, in order of their priority, and the amount of each agricultural charge shall be reduced by the amount so paid.

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   (6)   Any payment made in accordance with subsection (3) shall discharge the buyer or person effecting the sale on behalf of the farmer, trader, or related business, as the case may be, from any claim, howsoever arising, in respect of the proceeds of the sale.

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   (7)   Any farmer, trader or related business who fails to give written notice in accordance with this section commits an offence and is liable, on conviction, to a fine not exceeding the value of the outstanding loan.