Agricultural Bank (Special Ratification) Act of 1963 (Qld)

180 (Quenislanit ANNO DUODECIMO ELIZABETHAE SECUNDAE REGI.NAE No. 31 of 1963 An Act to Ratify a Certain Transaction entered into by The Corporation of the Agricultural Bank , and for other purposes [ASSENTED TO 13TH DECEMBER, 1963] BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title . This Act may be cited as " The Agricultural Bank (Special Ratification) Act of 1963." 2. Ratification of a certain transaction . (1) Notwithstanding any provision of " The Co-ordination of Rural Advances and Agricultural Bank Acts, 1938 to 1951," or " The Agricultural Bank (Loans) Act of 1959," The Corporation of the Agricultural Bank as constituted under such Acts (herein called " the Bank ") is, and it is hereby declared always was, authorised to make advances to Amagraze Limited a company within the meaning of " The Companies Act of 1961 " (herein called " the Company ") and the Company is, and it is hereby declared always was, a company qualified to apply for and obtain advances from the Bank.

Agricultural Bank ( Special Rat ifi cation ) Act of 1963, No. 31 181 (2) Without limit to the generality of subsection (1) of this section, the Bank is , and it is hereby declared always was, empowered and authorised to consent to the transfer to the Company of all the estate and interest . of the mortgagor in all of the lands and improvements therein comprised in Memorandum of Mortgage registered in the Department of Lands , Brisbane, as No. 132597, subject to that Mortgage. (3) The Bank may , and it is hereby declared always could, make or agree to make any advance to the Company upon such security as it deems or shall have deemed fit and in particular may, and it is hereby declared always could , consent to the transfer mentioned in subsection (2) of this section upon the continued security of the Memorandum of Mortgage registered in the Department of Lands, Brisbane , as No. 132597, except in so far as the provisions of such Memorandum of Mortgage are, by the Indenture of Covenant hereinafter mentioned , varied and upon the further security of that Indenture of Covenant and Bill of Sale, both dated the Third day of October, one thousand nine hundred and sixty- three , whereto the Bank and the Company are parties and which Indenture of Covenant and Bill of Sale are hereby ratified and validated.