25 March 2022
Farm Debt Mediation (FDM) is widely acknowledged as a successful way for the farmer and the financier to resolve matters relating to farm business debts and, in many cases, is a preferred alternative to court. Most importantly, the FDM process provides an additional avenue for farmers in financial difficulty to either re-establish and maintain their viability or exit the industry with dignity. The ABA welcomes the review’s consideration of opportunities to enhance the Act and align with legislation in other states where possible.
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The ABA strongly supports extension of the exemption for a period of a further two years to 3 October 2026 and requests the Treasury explore making the exemption permanent to ensure certainty and reduce regulatory restrictions and barriers for small businesses seeking access to credit.
Banks play an active role to support customers during natural disasters. ABA’s submission is made in two parts, first, outlining banks’ active support of customers during natural disasters and second, responding to the questions in respect to impacts of insurance unaffordability put to the ABA.
Banks continue to strongly support measures to allow companies and registered schemes to fulfil their legal obligations to hold meetings and execute documents using electronic means under the Corporations Act 2001 (Cth). The ABA makes four key recommendations, including providing optionality for companies to host AGMs in either hybrid or wholly online formats; amendments to… Read more »