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FARM BUSINESS DEBT MEDIATION ACT 2017 - SECT 49
Grounds
49 Grounds
(1) Each of the following is a ground for issuing an exemption certificate in
relation to a farmer’s default under a farm mortgage— (a) the farmer and
the mortgagee took part in mediation for the farm business debt conducted
under this Act and the mediation— (i) considered matters relating to the
farmer’s default; and
(ii) was satisfactory;
Note— See also section 92
about the application of this Act.
(b) the farmer has failed to, and does
not intend to, mediate for the farm business debt about matters relating to
the farmer’s default; Note— See section 53 for when a farmer has failed
to mediate.
(c) all of the following apply— (i) the farmer and the
mortgagee agreed to mediate for the farm business debt about matters relating
to the farmer’s default;
(ii) 3 months, or a longer period agreed in
writing by the mortgagee, has elapsed since the mortgagee gave a
notice inviting a request for mediation to the farmer;
(iii) during that
period, the mortgagee has attempted to mediate in good faith;
(iv) there has
been no satisfactory mediation between the farmer and the mortgagee;
(d) the
farm business debt is secured, in part, by a farm mortgage of farm property in
another State and, under the corresponding law of that State— (i) the
mediation for the farm business debt considered matters relating to the
farmer’s default under the farm mortgage of farm property in Queensland and
was satisfactory; or
(ii) the farmer has failed to, and does not intend to,
mediate for the farm business debt about matters relating to the farmer’s
default.
(2) For subsection (1) (c) (iii) , a mortgagee not agreeing to
reduce or forgive a debt does not, of itself, mean the mortgagee has not
attempted to mediate in good faith.
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