Builders Licensing (Amendment) Act 1974 (NSW)

BUILDERS LICENSING (AMENDMENT) ACT.

ANNO VICESIMO TERTIO

ELIZABETHE II REGINE

Act No. 91 , 1974.

An Act to enable the Builders Licensing Board to borrow money for the purpose of purchasing premises; for this and other purposes to amend the Builders Licensing Act,

1971; and for purposes connected therewith. [Assented

to, 11th December, 1974.]

D E it enacted by the Queen's Most Excellent Majesty, b>

(Amendment) Act. 1974".

and with the advice and consent of the Legislative
Council and Legislative Assembly of New South Wales in

Parliament assembled, and by the authority of the same, as

follows : —

1. This Act may be cited as the "Builders Licensing

1. The Builders Licensing Act, 1971, is amended—

(a) by inserting after section 42 the following section :—

42A. Except as may be provided in any other Act, any property acquired by the Board for the purposes of this Act shall, subject to any encum­ brance to which that property is subject, be an asset forming part of the fund from which the money for the acquisition of that property came.

(b)	by inserting after section 43 the following section :—
43A. (1) The Board may, with the approval of the Treasurer, borrow money for the purpose of acquiring premises by purchase pursuant to section
49 (1) .

(2) The Board may give security for the repayment of any money borrowed pursuant to subsection (1) by executing a mortgage or mortgages in respect of the premises acquired.

(c) (i) by inserting in section 49 (1) after the word "premises" the words "to be used for or to be used partly";

(ii)   by inserting after section 49 (1) the following subsection :—

(1A) Subsection (1) does not affect the

application of section 38 of the Interpretation

Act, 1897, to the Board.

CLEAN

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