17Duration of exemption certificate

17 Duration of exemption certificate

(1)  Subject to subsection (2) , (3) or (4) , an exemption certificate takes effect on the date on which it is issued and remains in force until the date on which the effective period ends.

(2)  For the purposes of subsection (1) , the effective period for an exemption certificate is –

(a) if satisfactory mediation in respect of the farm debt concerned has taken place, or the farmer has failed to take part in mediation in good faith – the period of 3 years commencing on the last date of the mediation; or

(b) if the farmer has indicated in writing that the farmer does not wish to enter into or proceed with mediation – the period of 3 years commencing on the date on which the indication was given to the Commissioner or Creditor; or

(c) if the farmer has failed to respond to a notice inviting mediation within the period of 20 business days (or any longer period allowed by the Commissioner for the purposes of determining the application for the exemption certificate)  – the period of 3 years commencing immediately after the end of the period required or allowed for the response; or

(d) in any other case – the period of 3 years commencing on the date on which the certificate was issued.

(3)  An exemption certificate is not to be issued after the date on which it would, if issued, expire under subsection (1) .

(4)  An exemption certificate is to specify the date on which it expires.

(5)  The expiry of an exemption certificate does not affect any proceedings for the recovery of a farm debt, or for the exercise or enforcement of any right of the Creditor, already taken or commenced by a Creditor while the exemption certificate was in force, and any such proceedings may be continued and concluded as if the certificate were still in force.

(6)  The reference in subsection (5) to the commencement of proceedings does not include a reference to the giving of any statutory enforcement notice or other action taken in order to fulfil a condition precedent to the enforcement of a right otherwise than through proceedings in a court or tribunal.