Agricultural Bank Act Amendment Act 1929 (WA)

1929.] Agricultural Bank. [No. 24.

AGRICULTURAL BANK.

20° GEO. V., No. XXII.

No. 24 of 1929.

AN ACT relating to Advances by the Agricultural Bank,

and to amend the Agricultural Bank Act, 1906, and

the Agricultural Bank Act Amendment Act, 1921.

[Assented to 11th December, 1929.1

Council and Legislative Assembly of Western Australia, inBE it enacted by the King's Most Excellent Majesty, byand with the advice and consent of the Legislative

this present Parliament assembled, and by the authority of

the same, as follows:—

1.   This Act may be cited as the Agricultural Bank Act short title.

Amendment Act, 1929, and shall be read as one with the Agri- cultural Bank Act, 1906, hereinafter referred to as the princi- pal Act, and with the Acts amending the same.

2.     (1.) It shall be, and shall be deemed to have been, law- Power to extend

ful for the Agricultural Bank of Western Australia and its PParognAt	refund temporarily.
Trustees with respect to advances under the principal Act and its amendments

(a) to extend the time for payment by mortgagors of any instalment of principal or interest, or of prin- cipal and interest, which may become, or may be- fore the commencement of this Act have become, due and payable by any mortgagor under the pro- visions of any mortgage security held by the Bank; and

No. 24.] Agricultural Bank. [1929.

(b) to refund to any mortgagor the whole or any part of any such instalment as aforesaid which may have been paid either before or after the commencement of this Act, but subject to the liability of the mortgagor to repay to the Bank such instalment or any part thereof so refunded at a future date as may be required by the Bank.

(2.) The amount of any such instalment of principal or interest, or of principal and interest or any part thereof, so refunded subject to the liability of the mortgagor to repay the same to the Bank at a future date as may be required by the Bank, shall, with interest thereon, continue a charge on the mortgaged property under the security held for the time being by the Bank, and such security shall to all intents and purposes have and continue to have effect as if the said in- stalment or the part thereof so refunded had not been paid to and received by the Bank.

Amendment of es.

Subsection two of section ten of the principal Act as amended by section two of the Agricultural Bank Act Amend- ment Act, 1909, is hereby amended by striking out the words "three guineas" and inserting the words "five guineas" in place thereof.

(2) of s. 10 o f No. 3.

15 of 1900.

Section two of the Agricultural Bank Act Amendment Act, 1921, is hereby amended by striking out the words "ten thousand," and inserting the words "fifteen thousand" in place thereof.

Amendment of a. 2

of No. 3 of 1022. 4.