New South Wales Consolidated Acts

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FARM DEBT MEDIATION ACT 1994 - SECT 11C

Implementing Heads of Agreement

11C Implementing Heads of Agreement

(1) A contract, deed, mortgage or other instrument entered into as a result of, or pursuant to, Heads of Agreement between a farmer and a creditor must reflect the relevant Heads of Agreement.
(2) A creditor who is a party to any contract, deed, mortgage or other instrument which purportedly results from, or is pursuant to, Heads of Agreement between the creditor and a farmer but which fails to reflect the relevant Heads of Agreement is guilty of an offence.
Maximum penalty (subsection (2)): 100 penalty units.



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