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

STATUTORY RULES.

1945. No. 107.

REGULATION UNDER THE NATIONAL SECURITY ACT 1939-1943.*

I, THE DEPUTY OF THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the National Security Act 1939-1943.

Dated this fourth day of July, 1945.

WINSTON DUGAN

Deputy of the Governor-General.

By His Excellency’s Command,

J. B. CHIFLEY

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

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Amendments of the National Security (Capital Issues) Regulations. 

Certain loans totalling not more than £1,500 in twelve months not affected.

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

(a) by omitting from sub-regulation (1.) the word “Nothing” and inserting in its stead the words “Subject to the next succeeding sub-regulation, nothing”;

(b) by omitting from that sub-regulation the words “Five hundred pounds” and inserting in their stead the words “One thousand five hundred pounds”;

(c) by inserting after sub-regulation (1.) the following sub-regulation:—

“(1a.) The last preceding sub-regulation shall not affect the application of any other provision of this Part to the giving of any mortgage or charge if—

(a) the property or assets the subject of the mortgage or charge consist of, or include, land;

(b) the mortgage or charge is a first mortgage or charge, or is a second or subsequent mortgage

 

* Notified in the Commonwealth Gazette on 5th July, 1945.

  Statutory Rules 1940, No. 218, as amended by Statutory Rules 1940, Nos. 242 and 291; 1941, Nos. 150 and 304; 1942, Nos. 23, 126; 196, 360 and 424; and 1945, No. 26.

3925.—Price 3d.

or charge to a person who already holds a first mortgage or charge on that property or those assets or any part thereof; and

(c) the rate of interest payable under the mortgage or charge exceeds the maximum rate which is, in accordance with the National Security (Economic Organization) Regulations, lawfully payable under the mortgage or charge or, if there is no such maximum rate, the rate of Four pounds fifteen shillings per centum per annum.”; and

(d) by omitting from sub-regulation (2.) the words “Five hundred pounds referred to in the last preceding sub-regulation” and inserting in their stead the words “One thousand five hundred pounds referred to in sub-regulation (1.) of this regulation”.

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