8Exemption certificate required for enforcement action

#### 8 Exemption certificate required for enforcement action 8 Exemption certificate required for enforcement action > > (1) A creditor must not take enforcement action in respect of a farm mortgage unless an exemption certificate granted to the creditor is in force in respect of the farm debt concerned. > > > > Maximum penalty: > > > > > (a) for a corporation—2,500 penalty units, or > > > > > (b) for an individual—500 penalty units. > > > (2) Enforcement action taken by a creditor in respect of a farm debt in contravention of this Act is void. > > > (3) This section does not invalidate any statutory enforcement notice or other process given, served or executed in order to fulfil a condition precedent to the taking of any enforcement action, but operates to prohibit the taking of the action concerned and the enforcement by a court or tribunal of any such notice or process. > > > (4) Subsection (3) does not affect any proceedings authorised under section 15 (5) to be continued or concluded after the expiry of an exemption certificate. > > **s 8:** Am 1996 No 106, Sch 1 \[2\]. Rep 2018 No 16, Sch 1 \[10\]. Ins 2018 No 16, Sch 1 \[9\].