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Farm Business Debt Mediation Bill

New legislation passed by the Queensland Parliament on 22 March 2017 will see QRAA assume an expanded range of functions under a new name from 1 July 2017.

The Farm Business Debt Mediation Bill 2016 (FBDM Bill) includes:

  • Name change for QRAA to the Queensland Rural and Industry Development Authority (QRIDA)
  • Establishment of a compulsory Farm Debt Mediation program to provide a process for the efficient and equitable resolution of farm debt disputes – the program will be managed by a separate Business unit within QRIDA with robust information barriers to protect the integrity of this new role
  • Expansion of policy and research functions with a focus on farm finance matters
  • Undertake rural debt surveys in Queensland commencing with the period January 2012 to December 2017
  • Creation of an office within the Authority called the Farm Debt Restructure Office, with specific functions yet to be determined.

Subject to Royal Assent, the commencement of the new Act and functions will be from 1 July 2017.

See Ministerial statement following passage of FBDM Bill.

Last updated
10 May 2017