QLDIn ForceAct
Credit (Rural Finance) Act 1996
sec.17CMortgagee must give notice of best price estimate and expenses
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sec.17C Mortgagee must give notice of best price estimate and expenses
The mortgagee must, within 30 days after the mortgagee takes possession of the farm equipment, give the mortgagor a written notice stating— a best price estimate for the farm equipment; and the mortgagee’s estimate of the mortgagee’s enforcement expenses; and the mortgagee’s estimate of any expense the mortgagee must reasonably incur to return the farm equipment to the mortgagor. Maximum penalty—500 penalty units. s 17C ins 2002 No. 52 s 10
- (a) a best price estimate for the farm equipment; and
- (b) the mortgagee’s estimate of the mortgagee’s enforcement expenses; and
- (c) the mortgagee’s estimate of any expense the mortgagee must reasonably incur to return the farm equipment to the mortgagor.