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House of Assembly - Fifty-Fourth Parliament, First Session (54-1)
2018-06-19 Daily Xml
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Farm Debt Mediation Bill

Second Reading

Adjourned debate on second reading.

(Continued from 6 June 2018.)

Mr TEAGUE (Heysen) (12:55): I rise to support the bill. The Farm Debt Mediation Bill 2018 is an important initiative of the new government and yet another timely and orderly progression in the fulfilment of the new Marshall government's 100-day plan. This is a commitment that we made and, by the good work of the Minister for Primary Industries and Regional Development, the bill was introduced to this house on 6 June. It is yet another fulfilment of the pre-election program of the new Marshall government and yet another step in the right direction so far as ensuring that we recalibrate our focus properly to consider the interests of those in the regional areas of our state who do so much to contribute to our economy and the fabric of our wonderful society in South Australia.

The Farm Debt Mediation Bill 2018 provides for a structure within which farmers and creditors can come together in circumstances of financial distress where, pursuant to credit contracts that farmers might have entered into, they might only have the opportunity to either negotiate in circumstances of quite different negotiating capacity or initiate enforcement action by creditors, involving what would otherwise be quite precipitous actions in enforcing the repayment of debts or, indeed, the foreclosure on properties in circumstances of particular distress. I seek leave to continue my remarks.

Leave granted; debate adjourned.

Sitting suspended from 12:59 to 14:00.

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