18MRights during cooling off period

#### 18M Rights during cooling off period 18M Rights during cooling off period > > (1) The farmer may, during a cooling off period arising under section 18L, serve a written notice on the creditor or the creditor’s Australian legal practitioner to the effect that the farmer rescinds the mediation agreement subject to the cooling off period. > > > (2) The notice of rescission must be signed by the farmer or the farmer’s Australian legal practitioner. > > > (3) On service of a notice of rescission signed in accordance with this section, the mediation agreement is taken to be rescinded ab initio. > > > (4) If rescission occurs, the farmer or creditor is entitled to make a claim for such compensation, adjustment or accounting as is just and equitable between the farmer and the creditor where a party has received a benefit under the mediation agreement. > > > (5) This section and section 18L do not affect any right or remedy available otherwise than under this section or section 18L. > > > (6) A creditor may not make a claim under subsection (4) if the only basis of the claim is the rescission of the mediation agreement under this section. > > **s 18M (previously s 11B):** Ins 1998 No 14, Sch 1 \[6\]. Am 2002 No 82, Sch 1 \[21\] \[22\]; 2005 No 98, Sch 3.25; 2018 No 16, Sch 1 \[11\]–\[13\]. Renumbered 2018 No 16, Sch 1 \[16\].