Creditor-initiated mediation
18A Creditor-initiated mediation
A creditor under a farm mortgage may give a farmer who is in default under the mortgage a notice of invitation to participate in mediation (a notice inviting mediation) in respect of the farm debt concerned.
The notice must specify that a failure of the farmer to respond to the notice within the period required by this section may constitute a ground for the grant of an exemption certificate.
The farmer must respond to the notice within 20 business days after receiving the notice.
A notice inviting mediation, or a farmer’s response, is to be in writing in the approved form.
This Act’s bill:Explanatory memorandumSecond reading speech
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