Thank you, Mr. Chair.
I did want to mention again that this did come out of our consultations and it was highlighted by one of our administrators, the need for this amendment. It intends to ensure that we don't put obligations on our administrators at this program that were never intended.
I'll explain a little bit specifically on this one. Our act allows for two things. It allows for a guarantee of the repayment that an administrator makes to a producer and it also allows us to pay the interest on the first $100,000 of the advance that the administrator makes to the producer. We have organizations like the Feeders associations that already have repayment guarantees from the province. They don't need our guarantee, but they would like to access our program for the $100,000 interest-free benefit.
Section 5.1(2) of the act outlines the provisions that need not be in our agreement with those organizations that simply want to access the interest-free benefit because they have no guarantee. Those guarantee provisions need not be in those guarantee agreements. What we have here is an oversight that section 19(1)(c) was not included in that list in 5(1)(c). What 19(1)(c) does is describes the administrators' liability and how we would apply it.
If we don't fix this we're going to end up with an agreement with an organization that has no guarantee in it, talking about what the administrators' liability is in the case of a default to a producer. Obviously, that's not a logical conclusion.