sec.52Deciding application

sec.52 Deciding application

The authority must— consider the mortgagee’s application for an exemption certificate; and consider all representations made in accordance with the show cause notice; and decide to approve or refuse the application; and as soon as practicable after making the decision, give the farmer and the mortgagee a notice that states the decision. The authority must decide to approve the application if the authority is satisfied— the farmer is in default under the farm mortgage; and an enforcement action suspension certificate is not in force for the farm mortgage; and there is a ground, relating to the farmer’s default, to issue the exemption certificate. If a ground mentioned in section 49 (1) (a) or (d) exists, the authority may decide to issue an exemption certificate for the farm mortgage whether or not the mortgagee gave a notice inviting a request for mediation to the farmer. The authority must decide to refuse the application if the authority is satisfied— a heads of agreement is in force for the farm business debt; and the cooling-off period for the heads of agreement has not ended. If the authority decides to approve the application, the notice the authority gives the farmer under subsection (1) (d) must be an information notice for the decision. If the authority decides to refuse the application, the notice the authority gives the mortgagee under subsection (1) (d) must be an information notice for the decision. s 52 amd 2024 No. 17 s 192 s ch 1 pt 1 (sec.52-ssec.1) The authority must— consider the mortgagee’s application for an exemption certificate; and consider all representations made in accordance with the show cause notice; and decide to approve or refuse the application; and as soon as practicable after making the decision, give the farmer and the mortgagee a notice that states the decision. (sec.52-ssec.2) The authority must decide to approve the application if the authority is satisfied— the farmer is in default under the farm mortgage; and an enforcement action suspension certificate is not in force for the farm mortgage; and there is a ground, relating to the farmer’s default, to issue the exemption certificate. (sec.52-ssec.3) If a ground mentioned in section 49 (1) (a) or (d) exists, the authority may decide to issue an exemption certificate for the farm mortgage whether or not the mortgagee gave a notice inviting a request for mediation to the farmer. (sec.52-ssec.4) The authority must decide to refuse the application if the authority is satisfied— a heads of agreement is in force for the farm business debt; and the cooling-off period for the heads of agreement has not ended. (sec.52-ssec.5) If the authority decides to approve the application, the notice the authority gives the farmer under subsection (1) (d) must be an information notice for the decision. (sec.52-ssec.6) If the authority decides to refuse the application, the notice the authority gives the mortgagee under subsection (1) (d) must be an information notice for the decision.