Savings Bank Act 1860 (SA)

ANNO VICESIMO TERTIO ET VXCESIMO QUARTO

VICTORIAE REGINB.

No. 15.

An Act to nmetzd the Law re7atinnq to the 8uuings Bank of Eloozcth

Australia.

[Assented to, 17th October, 1860.3

HEREAS, on the twenty-seventh day of January, 1858, an Preamble.

m' Act was passed by the Governor-in-Chief of the Province

of South Australia, with the ad&e and consent of the Legislative

Council and House of Assembly of the said Province, intituled

An Act to consolidate and amend the Laws relating to the Savings

Bank of South Australia :" And whereas there is no power under

the said Act authorizing the Trustees of the said Savings Bank to

lend or advance moneys on the security of properties-under the

operation of the " Real Property Act :" And whereas it is decmed

expedient to give authority to the said Trustees to lend moneys on the

security of such properties-Be it therefore Enacted, by the Governor-

in-Chief of the Province of South Australia, with the advice and

consent of the Legislative Council and House of Assembly of the

said Province in this prcscnt Parliament assembled, as follows:

1. Notwithstanding anything contained in the G Savings Bank Moneye of Savinga

Bank B

Act" to the contrary, the Trustees of the said Savings may, Savir~gs Bank, upon security by way of mortgage of any messnage, lands, and hereditaments held by the borrower free from all reserva- tions of mines, minerals, and royalties, for an estate of inheritance in fee simple, under the provisions of the a Real Property Act : ' * ' how

and they are hereby authorized, in their discretion, to lend at inte-

rest, any sum of money not exceeding the sum of Two Thousand

~2 Provided

Proviso.	Provided that the time, place and manner of making such loans shall be subject to the same directions, limitations, and restrictions,
as are contained in the 12th clawe of the Savings B& Act."

short Title. 2. In referring to this Act, it shall be sufficient to make use of

the expression " f i e Savings Bank Amendment Act."

Oommencement of 3. This Act shall be in force and take effect from the first day

A C ~. of November, 1860.

Badaide : Printed by authority, by W, C. Cox, Qo~ernment Printer, Victoria-square.