National Security (Capital Issues) Regulations (Amendment) (Cth)

STATUTORY RULES.

1942. No. 366.

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REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1940.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the National Security Act 1939-1940.

Dated this twenty-fifth day of August, 1942.

(SGD.) GOWRIE.

Governor-General.

By His Excellency’s Command,

for and on behalf of the Minister of State for Defence.

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Amendments of the National Security (Capital Issues) Regulations. 

Loans totalling less than £500 in any period of twelve months not affected.

1. Regulation 15 of the National Security (Capital Issues) Regulations is amended—

(a) by omitting the words “One thousand pounds” wherever occurring and inserting in their stead the words “Five hundred pounds”; and

(b) by inserting after paragraph (a) of sub-regulation (2.) the following paragraph:—

“(aa)any mortgage or charge given to a building society the amount of which does not exceed One thousand pounds;”.

Extensions and renewals.

2.—(1.) Regulation 18 of the National Security (Capital Issues) Regulations is amended by omitting from sub-regulation (1.) the words “the rate of interest payable under the mortgage or charge immediately

 

* Notified in the Commonwealth Gazette on August, 1942.

  Statutory Rules 1940, No. 218, as amended by Statutory Rules 1940, Nos. 242 and 291; 1941, Nos. 150 and 304; and 1942, Nos. 23, 126 and 196.

5981.—Price 3d. 15/24.8.1942.

 

prior to its extension or renewal, or the rate of Four pounds fifteen shillings per centum per annum, whichever is the higher.” and inserting in their stead the following paragraphs:—

“(a) in the case of a first mortgage or any charge (other than a mortgage or charge referred to in paragraph (b) of this sub-regulation)—the rate of interest payable under the mortgage or charge immediately prior to its extension or renewal, or the rate of Five pounds per centum per annum, whichever is the lower;

(b)in the case of a first mortgage or charge given to a building society, co-operative society or declared pastoral company —the rate of interest prescribed by any order under regulation 11 of the National Security (Economic Organization) Regulations in respect of any loan made by any such body; or

(c) in any other case—the rate of interest payable under the mortgage immediately prior to its extension or renewal.”.

(2.) This regulation shall come into operation on the fourteenth day of September, 1942.

 

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.