sec.49Grounds

sec.49 Grounds

Each of the following is a ground for issuing an exemption certificate in relation to a farmer’s default under a farm mortgage— the farmer and the mortgagee took part in mediation for the farm business debt conducted under this Act and the mediation— considered matters relating to the farmer’s default; and was satisfactory; See also section 92 about the application of this Act. the farmer has failed to, and does not intend to, mediate for the farm business debt about matters relating to the farmer’s default; See section 53 for when a farmer has failed to mediate. all of the following apply— the farmer and the mortgagee agreed to mediate for the farm business debt about matters relating to the farmer’s default; 3 months, or a longer period agreed in writing by the mortgagee, has elapsed since the mortgagee gave a notice inviting a request for mediation to the farmer; during that period, the mortgagee has attempted to mediate in good faith; there has been no satisfactory mediation between the farmer and the mortgagee; the farm business debt is secured, in part, by a farm mortgage of farm property in another State and, under the corresponding law of that State— the mediation for the farm business debt considered matters relating to the farmer’s default under the farm mortgage of farm property in Queensland and was satisfactory; or the farmer has failed to, and does not intend to, mediate for the farm business debt about matters relating to the farmer’s default. For subsection (1) (c) (iii) , a mortgagee not agreeing to reduce or forgive a debt does not, of itself, mean the mortgagee has not attempted to mediate in good faith. s 49 amd 2020 No. 3 s 89 ; 2024 No. 17 s 192 s ch 1 pt 1 (sec.49-ssec.1) Each of the following is a ground for issuing an exemption certificate in relation to a farmer’s default under a farm mortgage— the farmer and the mortgagee took part in mediation for the farm business debt conducted under this Act and the mediation— considered matters relating to the farmer’s default; and was satisfactory; See also section 92 about the application of this Act. the farmer has failed to, and does not intend to, mediate for the farm business debt about matters relating to the farmer’s default; See section 53 for when a farmer has failed to mediate. all of the following apply— the farmer and the mortgagee agreed to mediate for the farm business debt about matters relating to the farmer’s default; 3 months, or a longer period agreed in writing by the mortgagee, has elapsed since the mortgagee gave a notice inviting a request for mediation to the farmer; during that period, the mortgagee has attempted to mediate in good faith; there has been no satisfactory mediation between the farmer and the mortgagee; the farm business debt is secured, in part, by a farm mortgage of farm property in another State and, under the corresponding law of that State— the mediation for the farm business debt considered matters relating to the farmer’s default under the farm mortgage of farm property in Queensland and was satisfactory; or the farmer has failed to, and does not intend to, mediate for the farm business debt about matters relating to the farmer’s default. (sec.49-ssec.2) For subsection (1) (c) (iii) , a mortgagee not agreeing to reduce or forgive a debt does not, of itself, mean the mortgagee has not attempted to mediate in good faith.