Liens on Wool Act 1850 No 24a (NSW)

No. XXIV.

An Act to continue for three years from the thirty-first day of December nex t and from thence unti l the end of the next Session of the

Legislative Council an Act int i tuled " An

" Act to give a preferable Lien on Wool from " season to season and to make Mortgages of " Sheep Cattle and Horses valid without delivery " to the Mortgagee and to substitute for a limited
" time other provisions in lieu thereof." [1st

October, 1850.]

WH E R E A S re ign in t i tu led " An Act to give a preferable Lien on Wool	" from, season to season and to make Mortgages of Sheep Cattle and,
" Horses valid without delivery to the Mortgagee and to substitute for a " limited time other provisions in lieu thereof'' will expire on t he
thir ty-f i rs t day of December nex t and i t is expedient t h a t t h e said Ac t
be fur ther cont inued Be it therefore enacted by H i s Excel lency the Governor of N e w Sou th "Wales wi th t he advice and consent of t h e Legis la t ive Counci l thereof T h a t t h e said Act and every clause m a t t e r a n d t h i n g there in conta ined is hereby re-enacted and shall be and cont inue in force un t i l t h e thir ty-f irs t day of December which will be in t h e year one t housand e ight h u n d r e d and fifty-three and from thence
u n t i l t h e end of t he nex t Session of t h e Legis la t ive Council or Assem-
bly (as m a y be) of t h e said Colony.
2. A n d be it enacted Tha t all l iens of wool or mor tgages of live stock shal l be t ransferable by indorsement a n d every indorsee thereof shall have t he same r igh t t i t le and in teres t the re in respectively as t h e or iginal l ienee or mor tgagee .

an A c t passed in t h e e leventh year of H e r Majes ty ' s

3 . A n d be i t enacted Tha t in every case where before or after

t he pass ing of th i s Ac t t h e a m o u n t of pr inc ipa l and interest or of the

requ i re on produc t ion to those officers or e i ther of t h e m as t he case m a y requ i re of the or iginal receipt and of t h e mor tgage deed to which t h e same shall re la te and from a n d after t h e t ime of t h e reg i s t ra t ion of any such verified receipt such paymen t shall operate as an ext inc t ion of t h e mor tgage and of t h e r igh t and interes t thereby crea ted to all in ten t s and purposes whatsoever b u t wi thout prejudice never theless to any previous sale or sales or any conveyance in pu r suance thereof u n d e r such m o r t g a g e deed a n d w i t h o u t prejudice to a n y second or subsequent

ba lance of pr inc ipa l and in teres t due upon any mor tgage of live stock shall have been or shall be paid to t h e person ent i t led to receive the same or his agent in t h a t behalf and a receipt in wr i t ing for the a m o u n t so paid shall have been or shall be given signed by the pa r ty so ent i t led or by his agen t acknowledging such p a y m e n t to be in satisfaction of t h e mor tgage it shal l be lawful for t he mor tgago r his executors admin is t ra to rs or assigns to cause a copy of such receipt duly verified by affidavit to be regis tered a t Sydney in t h e office of t he officers of t h e Supreme Cour t appointed to execute t h e dut ies of t he l a te office of 'Registrar General or a t Me lbou rne in t h e office of t h e D e p u t y Reg i s t r a r

of t h e Supreme Cour t for t h e Dis t r ic t of P o r t Phi l l ip as t h e case may

subsequent mor tgage affecting t h e same live stock or any p a r t thereof t h e n duly regis tered unless every p a r t y the re to shal l by wr i t ing unde r his or he r h a n d at the foot of such receipt as aforesaid have signified his or her assent to the regis t ra t ion of such receipt.