Agricultural Bank Act Amendment Act 1921 (WA)

1922.] Agricultural Bank. [No. 3.

AGRICULTURAL BANK.

12° Glio. V., No. XXXVII.

No. 3 of 1922.

AN ACT to amend the Agricultural Bank Aet, 1906.

[Assented to 31st January, 1922.]

BE it enacted by the King's Most Excellent Majesty, byCouncil and Legislative Assembly of Western Australia, inand with the advice and consent of the Legislative

this present Parliament assembled, and by the authority of

the same, as follows:—

This Act may be cited as the Agricultural Bank Act Amendment Act, 1921, and shall be read as one with the Agricultural Bank Act, 1906, and its amendments, herein- after referred to as the principal Act. Short title.

1.

Funds of the Bank not exceeding ten thousand pounds in the aggregate may, if the trustees think fit and the Governor approves, be applied to provide premises for the purposes of the Bank or as residential quarters for offi- cers, but any money so applied shall be chargeable with the interest mid contributions to the redemption account at the prescribed rate.	°Laces, etc.
Advances for

2.

enorent of

Subsection (2) of section thirteen of the principal A ct shall not apply to any officer not under the Public Service Act, 1904, who is a discharged soldier within the meaning of the Discharged Soldiers' Settlement Act, 1918. sAemoti

3.

4. The Bank may, if the trustees think fit, apply its funds Improvements prior to se/echon

to the improvement of land for the purposes of group settle- ment prior to selection; but any moneys so applied with in- terest at the prescribed rate shall be a charge on the land, and shall be duly apportioned to the several allotments; and the repayment of the apportioned amounts with interest in respect of the several allotments shall, as each allotment is acquired by a selector under conditional purchase or other- wise, be secured to the Bank by a mortgage under and sub- ject to the provisions of the principal Act.