Moratorium Act 1932 (NSW)

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An Act to amend and consolidate the law providing for a moratorium and restricting the liability of mortgagors of land; to repeal the Moratorium Act 1930, and Acts amending the same; and for purposes connected therewith.

Part 1Preliminary1Name of Act

This Act may be cited as the Moratorium Act 1932.

s 1: Am 1936 No 58, sec 2 (p); 1999 No 31, Sch 5.73.

2Interpretation

(cf Act No 48, 1930, s 2)

(1)

In this Act, unless the context or subject-matter otherwise indicates or requires—

Hire-purchase includes a letting of goods with an option to purchase, and an agreement for the payment of the price of goods by instalments, whether such agreement describes such instalments as rent or hire or otherwise.

Mortgage means any deed, memorandum of mortgage, instrument, or agreement whereby security for payment of moneys or for the performance of any contract is granted over real or personal property in New South Wales or any interest therein, and includes an equitable mortgage by deposit of title deeds, and any document by which the duration of a mortgage is extended or by which any provision of the mortgage is varied, but shall not include—

  • (a)

    any charge or lien existing solely by reason of a banker’s lien under the law merchant,

  • (b)

    any charge or lien existing by virtue of any statute, deed of settlement, articles of association, or rules, over shares in a company or society incorporated by or under any statute, or by Royal Charter,

  • (c)

    any preferable lien on crops or wool,

  • (d)

    a hire-purchase agreement.

Mortgage of land means any mortgage where land in New South Wales forms the whole or part of the security.

Mortgagor includes any person entitled to redeem a mortgage or who has guaranteed the payment of any money the payment of which is secured by a mortgage or the performance of any covenant, condition, or agreement expressed or implied in a mortgage whether such guarantee is expressed in the mortgage or in any other instrument.

Mortgagee means the person entitled to the benefit of the security of any mortgage.

Person who has guaranteed the payment of money includes and shall be deemed always to have included a person who to the knowledge of the creditor at the time of incurring such liability has incurred a primary liability to the creditor to pay money to such creditor as surety for a third person.

Prescribed date for repayment means the date fixed by Part 2 of this Act as the date upon which the principal sum secured by a mortgage to which such Part applies shall be payable or repayable.

The rate provided in the mortgage means the rate of interest…

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.