Have your say on farm debt mediation scheme bill
The Primary Production Committee is now seeking public submissions on the Farm Debt Mediation Bill (No 2). The bill aims to give parties with farm debt the opportunity to use mediation before an enforcement action is undertaken in relation to a farm property.
The bill would establish a statutory mediation scheme for farm debt. Secured creditors of farm businesses would be required to offer mediation before taking an enforcement action for debt secured over farm property. Farmers could also instigate mediation. Having a debt secured over the farm business would be the only criteria they would need to meet.
The scheme would apply to farm businesses involved in agriculture, including sharemilking, horticulture, aquaculture, and any activity involving primary production that is performed in connection with these. Farm debt would relate to loans that are secured against farm property, such as farm land and machinery, livestock, and harvested crops and wool.
Tell the Primary Production Committee what you think by making a submission on the bill.