ARRANGEMENT OF SECTIONS
1. Short title
3. Application of the Act to an agreement
4. Certificate of indebtedness
5. Registration of certificates of indebtedness
6. Cancellation of certificates of indebtedness
Sale of Produce to a Buyer
7. Sale of agricultural produce to or through a buyer
8. Payment by a buyer to the bank
9. Income tax
10. Special provision where the buyer is a co-operative
Hypothecation and Sale of the Movable Assets of a Farmer
11. Hypothecation of movable assets
12. Special provision where livestock hypothecated
13. Marking of hypothecated property
14. Sale of hypothecated property without an order of court
15. Statement by a farmer of his assets and liabilities
16. Security other than under the Act
Act 2, 1967,
Act 30, 1975,
Act 35, 1977,
Act 40, 1978.
An Act for providing additional security for moneys owing by farmers to the National Development Bank.
[Date of Commencement: 28th April, 1967]
Preliminary (ss 1-2)
This Act may be cited as the Agricultural Charges Act.
In this Act, unless the context otherwise requires-
"agricultural produce" means crops or horticultural produce whether future, growing, or severed from the land, and after severance whether subjected to any treatment or manufacture or not; livestock and the produce and progeny thereof; and other agricultural or horticultural produce whether subjected to any treatment or process of manufacture or not;
"agriculture" has the meaning assigned to it in section 2(1) of the National Development Bank Act;
"bank" means the National Development Bank as established by the National Development Bank Act;
"buyer" means a person to whom or through whom agricultural produce is required to be sold in accordance with the provisions of section 7;
"certificate of indebtedness" means the certificate referred to in section 4;
"farmer" means a person who is engaged in agriculture;
(a) any bovine animal, horse, ass, mule, sheep, goat, or pig;
(b) any fowl, goose, duck, or turkey kept for commercial purposes;
"loan" includes the contracts known in Setswana as "go fisa", and any similar contract;
"movable assets" shall-
(a) include all agricultural produce;
(b) exclude property not liable to attachment in satisfaction of a judgment debt in the High Court.
Agreements (ss 3-6)
Any written agreement between a farmer and the bank under which moneys are payable, or may become payable, to the bank, whether on its own account or as agent for the Government, may provide that this Act shall apply to the agreement; and if it does so provide, then this Act shall apply.
(1) Whenever an agreement is concluded, the farmer and an agent or servant of the bank authorized thereto shall certify as correct a certificate of indebtedness which shall contain the following-
(a) the full names, residential and postal addresses of the farmer;
(b) the place of signature of the certificate;
(c) a statement that the bank has through its servant or agent, explained to the farmer the effect of making an agreement subject to the pro
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