Under the terms and conditions of the installation aid scheme 2000-2006 the young farmer must be set up in farming on or after 1 January 2000; be under 35 years of age at the date of setting up; confirm that setting up costs associated with the farm transfer including stamp duty, legal and accounting fees and family settlements remain to be discharged; be first registered as a sole user of a herd number after the date of setting up on at least five hectares of owned or leased land; submit an initial application within four months of taking over the farm; fulfil certain requirements regarding occupational skill and competence at the date of setting up, or at the latest, within two years from that date; and have at least 50 income units and not more than 150 income units, including off-farm income, at the date of setting up, or at the latest, within two years from that date – at least 20 of the income units must come from farming and submit a full application with supporting documentation within 30 months of him or her taking over the farm.
A young farmer who set up in farming prior to 1 January 2000 and who is ineligible for the national scheme of installation aid, cannot be considered under the scheme of installation aid 2000-06.