Selections, Mortgages Act 1879 (SA)

A. D. 1879.

No. 153.

An Act to amcild thc Crown Lands Consolidation Act, by

providing that credit Selectors may ~ o r t ~ a g k

their Selections under certain circumstmces.

[Assented to, 25th Octobcv, 1879.1

4R.EAS it is expedient to arneiid the " Crown Lands Con- Preamble.

W H t o l i d ? t ion Act "--Be it therefore Enacted by the Governor of the Province of South Australia, with the advice and consent of the Legislative Council and Housc of Asscmbly of the said provi~cc, in this present Parliament assembled, as fol1ovv.n:

1. This Act inny be citcci for all purlwses as the Mortgage of short title.

Selections Act."

l53

2, Notwithstanding anything contained in the *' Crown Lands Power to selectors to

Consolidation Act," or in " The Crown Lands Act of 1878," it shall be mo*gage-

lawful for any sclector who now holds, or who may hereafter hold,

land upon crcdit on agrcenient, and who shall have complied with all

the povisions of such agreement, for a period of at lcast two years

ancl a half from the date thercof, to assign his interest by way of

mortgage, in manner hcreinafter provided, in the land so held as security for advances made to him, or for other valuable can- sidcration, subject to the following coriditions:

I. Tliv approval tl~crcto, in writing, of the Commissioner of Crown

Lands shall be first had and obtained: Provided that it shall he within the discretion of the said Commissioner either to give or to mithold such approval: And provided also that wery application for per~nissiori to mortgage as aforesaid shall be publishcc1 twice consccutively in t h ~ Government

Gazette before such approval be give11: H. The

2 420 SL 430 VICTORIAZ, No. 153.

Conditions	IT. The selector applying for permission to mortgage shall state in such application :-l. The name of the mortgagee; 2. The consideration given; 3. The rate of interest and other charges; and 4th. The term of the mortgage: and the agreement when so mortgaged shall be produced in the Crown Lands Office on payment of a fee of TTVO Shillings and Sixpencc:
Exercise of power of
sale.	I T I. In the cvcnt of the selector mortgaging as aforesaid, failing to comply with any of the conditions of the mortgage, the lands described in such mortgage may be sold by the mortgagee in the same manner, and subject to the same conditions, as are contained in clause 39 of the " Crown Lands Consolidation Act," in reference to sales by assignees of insolvent or assigned estate.
GovenlOr may nilbke

ro~at iox~s.

3. The Governor may, from time to time, make regulations for

giving effect to this Act, and may in such regulations fix the forms

to be used for mortgages and discharge.; or otherwise in connection

therewith.

In the name and on behalf of Her Majesty, I hereby assent

to this Bill.

WM. F. DEUMMOND JERV(316, Governor.

-

Adelaide : By authority, E. SPILLER, Acting Government Prkter, North-terrace.