John Forrest (Mallee, National Party) Share this | Hansard source

to move:

That the House:

(1)

recognises that a crisis is emerging in respect of debt recovery across the primary production sector of the Australian economy as a consequence of more than seven years of drought;

(2)

acknowledges the need for debt recovery protocols in commercial lending similar to those that exist for mortgage lending;

(3)

supports the concept of compulsory debt mediation prior to lenders exercising their rights to pursue recovery through legal processes; and

(4)

agrees that the Federal Parliament could legislate such a requirement in respect of corporations but the States and Territories need to legislate in respect of other commercial business arrangements.

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