Livestock Financial Protection Board

Ministry

Agriculture, Food and Rural Affairs

URL

http://omafra.gov.on.ca/english/open/lfpb.html

Address

1 Stone Road West, 3rd Floor NW, Box 3660, Station Central
Guelph
N1H8M4

Background

Farm Products Payments Act, RSO 1990, C. F.10, S. 2 (opens a new window)

O. REG. 560/93 (opens a new window)

Function

The board collects fees, administers a compensation fund and approves claims made against the fund. The fund was set up under the Ontario Beef Cattle Financial Protection Program to protect producers and other sellers of beef cattle in the event of defaults on payment by licensed buyers.

Membership

Members are appointed by the Minister. The board is composed of not fewer than five members consisting of: a) one member representing the Ontario Cattlemen's Association; b) one member representing the Canadian Meat Council; c) one member representing operators of community sales under the Livestock Community Sales Act; and d) such other members as the Minister considers advisable. The Minister appoints one member as chair and another as vice-chair.

Qualifications

Candidates should have a high degree of financial literacy, and knowledge of  the livestock and beef cattle industry in Ontario.  An understanding of the context in which LFPB operates and the interests of stakeholders, are considered assets.

Term

Board members are appointed for a term of up to 3 years and are eligible for reappointment.

Meetings

The Board meets a minimum of once per year.

Remuneration

Appointees are remunerated according to Schedule A, Level 2 of the Agencies and Appointments Directive.

Appointments & Vacancies