To ensure the Act reflects its original intent, the Farm Debt
Mediation Act 1994 (NSW) (FDMA) is currently under review as part
of the NSW Rural Assistance Authority's (RAA's) Strategic
Plan 2015-2019.
The review is part of the RRA's initiative in partnership
with the Australian Government to nationalise farm debt mediation,
whilst driving economic growth within the industry and
community.
The FDMA allows debtors in default of a farm mortgage to engage
in facilitated mediation with creditors before the creditor takes
enforcement action to recover the debt, allowing for the
'efficient and equitable resolution of farm
disputes.'(Section 3 FDMA)
What is under review?
The proposed changes impose strict obligations upon farmers to
comply with the FDMA's prescribed operation, yet eliminates
some burdensome procedural requirements.
