Mortgages of Sheep etc Act 1845 No 28a (NSW)

No. XXVIII.

An Act to give to valid Mortgages of Sheep

Cattle and Horses priority for a limited period

according to the date of the Registration thereof and for other purposes therein men­

tioned. [13th November, 1845.]

WHEREAS it is expedient for the prevention of secret securities and of the frauds consequent thereon and will conduce greatly to the	credit and relief of owners of sheep cattle and horses to make provision
for the registration of valid mortgage securities upon the same Be it
therefore enacted by His Excellency the Governor of New South Wales with the advice and consent of the Legislative Council thereof That all mortgages of sheep cattle or horses and of their increase and progeny which shall hereafter be made bond fide for valuable con­ sideration and which shall be otherwise valid in the law if duly regis­ tered within thirty days after the true date of the execution thereof in the office of the Registrar General of the Colony of New South Wales or in the office of the Deputy Registrar of the Court at Port Phillip according to the jurisdiction wherein the proprietor of the said mortgaged live stock shall be resident in the form in Schedule A appended to this Act shall have and be entitled in the law to priority over every unregistered mortgage of the same live stock or any part thereof and though such unregistered mortgage be made bond fide for valuable consideration and be of a prior or of the same date and execution as such registered mortgage.
2. And be it enacted That before or at the expiration of the time limited for the payment of the principal sum secured by any such registered mortgage it shall be lawful for the parties thereto from time to time by indorsement on the back thereof or by any deed or memor- randum in writing to extend as may be agreed upon between such
parties the time limited for such payment provided such further exten­
sion of the time of payment be indorsed on the said registry within fifteen days of the date thereof in the form in Schedule B appended to
this Act.
3. And be it enacted That no such sheep and other live stock mentioned and described in any such registered mortgage or their increase and progeny or the wool of any such sheep shall be held or deemed to be within the scope or provisions of any bankrupt or insol­ vent law now in force or hereafter to be in force within the said Colony for the relief of bankrupt or insolvent debtors Provided that no mort­ gage of any such live stock shall protect the same from the operation of any such law unless such mortgage shall have been registered full sixty days before the date of the order for sequestration or unless the consideration thereof shall be an advance or loan bond fide made at the time of the execution of any such mortgage.
4. And be it enacted That the Registrar General or Deputy Registrar of the said Court shall keep a separate and distinct registry from year to year of the particulars of all such mortgages of sheep cattle and horses as aforesaid and shall be entitled to demand for every such registry thereof a fee of two shillings and sixpence and one shilling for each affidavit sworn before them or made in verification thereof and all persons shall have access to the said registry and may search the same during the usual hours of business on paying for each search a fee of one shilling.

5 o — V O L . 2. 5.

5. And whereas an Act was passed in the seventh year of Her

Majesty's reign intituled " 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 whereas the said

Act may be annulled and disallowed by Her Majesty and it is

expedient to remove doubt as to the validity of engagements legally made under that Act before the disallowance of the same can be known in the Colony Be it enacted That all mortgages of sheep horses or cattle and all liens on wool legally made under the said Act before the disallowance of the same shall be notified in the Colony shall during the continuance of this Act be valid and effectual in the law
to all intents and purposes notwithstanding the disallowance of that

Act,

6. And be it enacted That nothing in this Act contained shall

be construed to affect in any way the rights or prerogative of the Crown as to any of the waste lands described in any such mortgages as the lands or stations whereon any such sheep horses or cattle may

be depasturing.

7. And be it enacted That this Act shall commence and take effect from and after the passing thereof and shall thenceforth be and continue in force for two years.

SCHEDULES REFERRED TO.

A.

Numbers and description of mortgaged Sheep

Date Cattle or Horses and the brand or other

Name of Name of

of Consideration. distinctive mark and Stations where the

Mortgagor. Mortgagee.

Deed. same are depasturing as also the name of the
principal Superintendent or Overseer.

Name of Witness or Witnesses.

B.

The time limited for the payment of the principal sum above-mentioned is extended to the

day of a.d.

Dated this day of a.d.

A. B. Mortgagor.

C. D. Mortgagee.

No. X X I X .