13E

Terms of reference for rural debt survey

Current

The terms of reference for a rural debt survey are as follows—

(a)

to establish the extent, nature and size of, and trends in, the total rural indebtedness—

(i)

in Queensland; and

(ii)

across various primary industries; and

(iii)

in different areas of Queensland identified by local government areas or postcodes;

(b)

to categorise loans to farmers for conducting farming businesses based on the financial viability of the farmers and the ability of the farmers to service their loans;

Examples of loan categories—

• loans for which the farmers are considered financially viable under most circumstances

• loans for which the farmers are considered financially viable in the long-term but who are experiencing some difficulty servicing the loan

• loans for which the farmers are experiencing major difficulties servicing the loan

(c)

to consult with financial institutions and peak primary industry bodies about the matters mentioned in paragraphs (a) and (b) to obtain information or observations about the matters.

This Act’s bill:Explanatory memorandum

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