The Parliamentary Committee handed down its report yesterday on the Farm Business Debt Mediation Bill 2016 (QLD). The Committee was unable to quantify the amount of debt in rural Queensland based on reliable data. To overcome this, the Committee suggested holding a Royal Commission into the Banking Sector to determine the relationship between the industries. The Committee produced 22 recommendations to address concerns raised by submissions. The Committee recommended the Private Members Rural and Regional (Development Assistance) Amendment Bill 2016 (QLD) not to be passed and the Farm Business Debt Mediation Bill 2016 (QLD) should be passed once recommendations are integrated. One of the key recommendations was to increase the level of legal aid funding to rural Queensland to assist in mediation. The report can be read in full here.
Earlier comments on this bill can be read here.
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