Credit (Rural Finance) Act 1996
sec.17FReturn of farm equipment when breach not remedied
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sec.17F Return of farm equipment when breach not remedied
This section applies if the mortgagee returns the farm equipment to the mortgagor and the mortgagor has not remedied a breach of the mortgage. The mortgagee may again take possession of the farm equipment if— the mortgagee gives the mortgagor, when the farm equipment is returned, written notice— stating the breach and how the mortgagor may remedy the breach; and requiring the mortgagor to remedy the breach within 14 days, or a longer period stated in the notice, after the notice is given; and the mortgagor does not remedy the breach within 14 days, or the longer period stated in the notice, after the notice is given. s 17F ins 2002 No. 52 s 10 (sec.17F-ssec.1) This section applies if the mortgagee returns the farm equipment to the mortgagor and the mortgagor has not remedied a breach of the mortgage. (sec.17F-ssec.2) The mortgagee may again take possession of the farm equipment if— the mortgagee gives the mortgagor, when the farm equipment is returned, written notice— stating the breach and how the mortgagor may remedy the breach; and requiring the mortgagor to remedy the breach within 14 days, or a longer period stated in the notice, after the notice is given; and the mortgagor does not remedy the breach within 14 days, or the longer period stated in the notice, after the notice is given.
- (a) the mortgagee gives the mortgagor, when the farm equipment is returned, written notice— (i) stating the breach and how the mortgagor may remedy the breach; and (ii) requiring the mortgagor to remedy the breach within 14 days, or a longer period stated in the notice, after the notice is given; and
- (i) stating the breach and how the mortgagor may remedy the breach; and
- (ii) requiring the mortgagor to remedy the breach within 14 days, or a longer period stated in the notice, after the notice is given; and
- (b) the mortgagor does not remedy the breach within 14 days, or the longer period stated in the notice, after the notice is given.
- (i) stating the breach and how the mortgagor may remedy the breach; and
- (ii) requiring the mortgagor to remedy the breach within 14 days, or a longer period stated in the notice, after the notice is given; and