Victorian Current Acts

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Notice of intention to take enforcement action and availability of mediation

    (1)     A creditor who intends to take enforcement action against a farmer in relation to a farm mortgage must give written notice to the farmer in accordance with subsection (2).

    (2)     The notice—

        (a)     must state that—

              (i)     the creditor intends to take enforcement action under the farm mortgage; and

              (ii)     mediation between the farmer and the creditor is available; and

              (iii)     the farmer may respond to the notice within 21 days by requesting mediation; and

              (iv)     failure of the farmer to respond within 21 days may constitute grounds for the issue of an exemption certificate to allow the creditor to proceed with the enforcement action; and

        (b)     must be in the approved form.

    (3)     This section does not apply to a creditor if an exemption certificate is in force in respect of the farm mortgage.

S. 9 amended by No. 16/2017 s. 54, substituted by No. 22/2022 s. 92.

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