Revised Laws of Saint Lucia (2021)

7.   Supplementary provisions to agricultural charges

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   (1)   An agricultural charge has effect despite anything contained in the Bills of Sale Act, and an agricultural charge is not a bill of sale within the meaning of that Act.

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   (2)   Subject to subsection (3), agricultural charges shall, in relation to one another, have priority in accordance with the times at which they are respectively registered under this Act and the registered charge has priority over a later registered charge.

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   (3)   Despite subsection (2), any agricultural charge created solely to secure the payment of insurance premiums upon farming stock shall have priority over any other agricultural charge not created for such purpose.

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   (4)   When an agricultural charge creating a floating charge has been created, an agricultural charge purporting to create a fixed charge on any of the property comprised in the floating charge shall, in respects of the property which is subject to such floating charge, be of no effect so long as the floating charge remains in force.

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   (5)   After the commencement of this Act, where a farmer, trader or related business mortgages interest in land, and such farmer, trader or related business creates an agricultural charge which includes growing crops, the right of the holder under such charge shall have priority over those of the mortgagee, whether in possession or not, and irrespective of the dates of the mortgage and the charge.

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   (6)   Farming stock which is subject to an agricultural charge shall not, for the purposes of Title IX of the Commercial Code, be considered to be goods in the possession, order or disposition of the farmer, trader or related business in his or her trade or business, by the consent and permission of the true owner thereof, under such circumstances that he or she is the reputed owner thereof.

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   (7)   An agricultural charge shall not protect property which, but for such charge, would have been liable to distress for rent or rates.