National Security (Contracts Adjustment) Regulations (Amendment) (Cth)

STATUTORY RULES.

1943. No. 4.

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 twelfth day of January, 1943.

GOWRIE

Governor-General.

By His Excellency’s Command,

H. V. EVATT

for and on behalf of the Minister of

State for Defence.

 

Amendments of the National Security (Contracts Adjustment) Regulations,

Definitions.

1. Regulation 3 of the National Security (Contracts Adjustment) Regulations is amended by inserting, before the definition of “respondent”, the following definition:—

“‘party’, in relation to a contract or agreement, being a mortgage, includes—

(a) any legal or equitable assignee of an actual party to the mortgage;

(b)any person entitled to the equity of redemption in respect of the property subject to the mortgage; and

(c) the legal personal representative of an actual party to the mortgage or of any person specified in the last two preceding paragraphs;”.

 

* Notified in the Commonwealth Gazette on 13th January, 1943.

  Statutory Rules 1942, No. 65, is amended by Statutory Rules 1942, Nos. 162, 258, 470 and 481.

 

2. After regulation 4 of the National Security (Contracts Adjustment) Regulations the following regulation is inserted:—

Special provision as to mortgages.

“4a. Where a party to a mortgage applies to a tribunal for relief under these Regulations, and it appears to the tribunal that, by reason of the applicant being engaged, or being deemed to be engaged, on war service within the meaning of the National Security (War Service Moratorium) Regulations, he has suffered a diminution of his income, that diminution shall be prima facie evidence that the performance or further performance of the obligations of the applicant under the mortgage with respect to the payment of interest has become inequitable and unduly onerous, and the tribunal shall consider any such diminution of income and any benefit or income derived by the applicant from the property subject to the mortgage and thereupon may make an order suspending or reducing, for such period, to such amount, and subject to such conditions, as it thinks fit, the interest payable under the mortgage.”.

Orders may be made subject to terms and conditions, &c.

3. Regulation 6 of the National Security (Contracts Adjustment) Regulations is amended by omitting the word “two” and inserting in its stead the word “three”.

 

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