Housing Loan Guarantee Act Amendment Act 1972 (WA)

WESTERN AUSTRALIA.

HOUSING LOAN

GUARANTEE.

No. 8 of 1972.

AN ACT to amend section seven B of the Housing

Loan Guarantee Act, 1957-1968.

[Assented to 25th May, 1972.]

RE it enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and the Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

Short title

1. (1) This Act may be cited as the Housing Loan and

Guarantee Act Amendment Act, 1972.	citation.
Reprinted

(2) In this Act the Housing Loan Guarantee Act,

in Vol. 17

of the

1957-1968, is referred to as the principal Act.

Reprinted

Acts.

Approved

for reprin

(3) The principal Act as amended by this Act may 20th June, ad

be cited as the Housing Loan Guarantee Act, 1957- amend ed by

Acts Nos. 52

of 1962,

1972.  27 of 1965,

and 17 of

No. 8.] Housing Loan Guarantee. [1972.

Amendment

to s. 7B.	2. Subsection (1) of section 7B of the principal
(Treasurer

empowered	Act is amended by substituting for subparagraphs
to give
indemnity	(i), (ii), and (iii) of paragraph (b) subparagraphs
to approved
institution.)	as follows-

(i) in the case of a new house situated within the metropolitan region as defined in section two of the Town Planning and Development Act, 1928, ninety-five per centum of the value of the new house or twelve thousand dollars, whichever is the lesser amount;

(ii)    in the case of a new house situated south of the twenty-sixth parallel of latitude but not within the metropolitan region as so defined, ninety-five per centum of the value of the new house or thirteen thousand dollars, whichever is the lesser amount; or

(iii)    in the case of a new house situated north of the twenty-sixth parallel of latitude, ninety-five per centum of the value of the new house; or

(I)	if it is in the North-West Division, or Eastern Division, as respectively described in section twenty-eight of the Land Act, 1933, seventeen thousand five hundred dollars; or
(II)	if it is in the Kimberley Division, as described in section twenty-eight of the Land Act, 1933, twenty thousand dollars,

whichever is the lesser amount. .