Farm Business Debt Mediation Act 2017
sec.3Purpose
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sec.3 Purpose
The purpose of this Act is to provide an efficient and equitable way for farmers and mortgagees to resolve matters relating to farm business debts. The purpose is achieved mainly by— providing for mediation as a way for farmers and mortgagees, participating in good faith, to efficiently and equitably resolve matters relating to farm business debts; and requiring a mortgagee, before taking action to enforce a mortgage securing a farm business debt— to offer mediation for the farm business debt to the farmer; and if the farmer asks for the mediation—to take part in the mediation in good faith; and providing that action that is taken to enforce a mortgage securing a farm business debt in contravention of this Act has no effect. (sec.3-ssec.1) The purpose of this Act is to provide an efficient and equitable way for farmers and mortgagees to resolve matters relating to farm business debts. (sec.3-ssec.2) The purpose is achieved mainly by— providing for mediation as a way for farmers and mortgagees, participating in good faith, to efficiently and equitably resolve matters relating to farm business debts; and requiring a mortgagee, before taking action to enforce a mortgage securing a farm business debt— to offer mediation for the farm business debt to the farmer; and if the farmer asks for the mediation—to take part in the mediation in good faith; and providing that action that is taken to enforce a mortgage securing a farm business debt in contravention of this Act has no effect.
- (a) providing for mediation as a way for farmers and mortgagees, participating in good faith, to efficiently and equitably resolve matters relating to farm business debts; and
- (b) requiring a mortgagee, before taking action to enforce a mortgage securing a farm business debt— (i) to offer mediation for the farm business debt to the farmer; and (ii) if the farmer asks for the mediation—to take part in the mediation in good faith; and
- (i) to offer mediation for the farm business debt to the farmer; and
- (ii) if the farmer asks for the mediation—to take part in the mediation in good faith; and
- (c) providing that action that is taken to enforce a mortgage securing a farm business debt in contravention of this Act has no effect.
- (i) to offer mediation for the farm business debt to the farmer; and
- (ii) if the farmer asks for the mediation—to take part in the mediation in good faith; and