PART 3Format and duration of pig purchase contract

Duration of pig purchase contract

regulation 6 + 6.—(1) A pig purchase contract must be—

regulation 6 1 a + (a)a fixed-duration contract; or

regulation 6 1 b + (b)an evergreen contract.

(2) A “fixed-duration contract” is a pig purchase contract that will terminate—

regulation 6 2 a + (a)on the expiry of a specific period; or

regulation 6 2 b + (b)on a specified date.

(3) An “evergreen contract” is a pig purchase contract that will continue until one of the parties terminates it.

(4) A pig purchase contract must state whether it is a fixed-duration contract or an evergreen contract.

(5) A pig purchase contract must specify the date on which the obligation to supply pigs commences, if this is different from the date on which it is signed.