Queensland Consolidated Acts

FARM BUSINESS DEBT MEDIATION ACT 2017 - SECT 31

31 Ensuring heads of agreement is given effect accurately

(1) This section applies if a farmer and mortgagee who entered into a heads of agreement for a farm business debt are also the parties to a contract, mortgage or other document entered into to give effect to the heads of agreement.

(2) The mortgagee must ensure the contract, mortgage or other document gives effect to the heads of agreement accurately.

Penalty—

Maximum penalty for subsection (2) —100 penalty units.

Note for subsection (2)—

If a corporation commits an offence against this provision, an executive officer of the corporation may be taken, under section 89 , to have also committed the offence.