In this Part, unless the context otherwise requires,—

Parts 5 to 7 of this Act are deferred until at least 10 working days following the Mediator’s summary of mediation.

The Banking Ombudsman is to institute arrangements for the accreditation of suitably qualified and experienced persons as mediators for the purposes of this Act and is to consult with the New Zealand Bankers Association and AMINZ on those arrangements.

The Banking Ombudsman is not liable for any of the costs of or associated with mediation for the purposes of this Act, except in its capacity as a creditor.

The Banking Ombudsman receives fair and reasonable cost-recovery from a lender in respect of a mediation.

This Act removes any financial limit from the Banking Ombudsman Scheme.

Should the Banking Ombudsman Scheme be wound up, then registered banks and non-bank deposit takers regulated by the Reserve Bank of New Zealand, will be levied to provide a similar service.

When given notice that creditor(s) wish to appoint a receiver, farmer(s) must nominate a mediator within 10 business days from the list of accredited persons.

Creditor(s) cannot nominate a mediator but must accept or reject the mediator nominated by the farmer(s).

If creditor(s) reject a mediator nominated by the farmer(s):

Where farmer(s) fail to appoint a mediator within 10 business days, one will be randomly selected from the list of accredited persons by the Banking Ombudsman.

The function of a mediator is to mediate impartially or attempt to mediate impartially between the farmer(s) and creditor(s) for the purpose of arriving at an agreement for present arrangements and for the future conduct of financial relations among them.

It is not a function of a mediator:

A mediator may:

Mediation sessions are to be conducted with as little formality and technicality, and with as much expedition, as possible.

Rules of evidence do not apply to mediation sessions.

A mediation session is not open to the public.

Persons who are not parties to a mediation session may be present at or participate in the session in an advisory or representative capacity if authorised to do so by the mediator.

Evidence of anything said or admitted during a mediation session and a document prepared for the purposes of, in the course of or pursuant to, a mediation session are not admissible in any proceedings in a court or before a person or body authorised to hear and receive evidence.

In this section, mediation session includes any steps taken in the course of making arrangements for a mediation session or in the course of the follow-up of a mediation session.

A person must not disclose any information obtained in a mediation session or in connection with the administration or execution of this Act unless the disclosure is made:

A party to mediation is not entitled to be represented by an agent unless it appears to the mediator that:

Farmer(s) party to mediation is entitled to have present at any mediation session an advisor, who may but need not be legally or otherwise professionally qualified, and is entitled to call upon that advisor for advice and counsel during the session.

A matter or thing done or omitted to be done by a mediator or any person acting under the direction of a mediator does not, if the matter or thing was done or omitted to be done in good faith for the purposes of executing this Act, subject the mediator or a person so acting personally to any action, liability, claim or demand.

At the end of a mediation, the mediator must, within 1 business day, complete and lodge the Summary of Mediation to the Banking Ombudsman and on a form approved by the Banking Ombudsman setting out a summary of the conduct and results of the mediation.

This Summary of Mediation is to be published contemporaneously to the farmers(s) and creditor(s) party to the mediation on the next business day.