Victorian Numbered Acts

FARM DEBT MEDIATION ACT 2011 (NO. 42 OF 2011) - SECT 15

    (1)     A creditor may apply to the Small Business Commissioner for the issue of an exemption certificate if—

        (a)     the farmer is in default under the farm mortgage; and

        (b)     a prohibition certificate is not in force in respect of the farm mortgage; and

        (c)     satisfactory mediation—

              (i)     has taken place in respect of the farm debt under this Part or under another scheme; or

              (ii)     has not taken place as the farmer has refused to mediate; or

              (iii)     has not taken place and at least 3 months have elapsed after a notice was given by the creditor under section 8, or any extended period that has been agreed to in writing by the creditor and farmer, and throughout that period the creditor has attempted to mediate in good faith.

    (2)     A creditor may apply to the Small Business Commissioner for an exemption certificate whether or not the creditor gave the farmer notice under section 8.

    (3)     If a creditor has given notice under section 8, the creditor must comply with that section and subsection (1)(c) before making an application under this section.

    (4)     An application under subsection (1)—

        (a)     must specify—

              (i)     the circumstances of the farmer's default; and

              (ii)     the circumstances of the farmer's refusal to mediate; and

        (b)     may specify any other alternative dispute resolution process that has occurred between the farmer and the creditor in relation to the farm debt.