State Advances Act and Other Acts Relief Amendment Act of 1934 (25 Geo v No. 16) (Qld)

14908 BANKS. State Advances Act, Etc., Amendment Act. 25 GEO. V. No. 16, BANKS. (1) State Advances Act and Other Acts Relief Amendment Act of 1934 .. 25 Qeo. V. No. 16 (2) Rural Assistance Board and Agricultural Bank Acts Amendment Act of 1934 .. .. 25 Qeo. V. No. 30 25 Qeo. V. An Act to Afford a Measure of Relief to Certain No. 16. THE STATE Borrowers under the State Advances Act and ADVANCES ACT AND Other Acts, and Certain Purchasers of Homes OTHER ACTS RELIEF under the Workers' Homes Acts, by the AMENDMENT ACT OF 1934. Funding ofArrears and the Extension of Terms of Repayment of Certain Mortgages and Contracts of Sale; to Liberalise the Provisions of the State Advances Act and Other Acts in relation to Advances and Interest Payments; and for other purposes. [ASSENTED TO 15TH NOVEMBER, 1934.] B E it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Assembly of Queenslandin Parliament assembled, and by the authority of the same, as follows:- PART I.- PRELIMINARY. PARTI.P- RELIMINARY. Short title 1. This Act may be cited as " The State Advances c. aonnds t rue t' IOn. Act and Other Acts Relie 'J f Amendment Act 011934." Parts of Act. 2. This Act is divided into Parts as follows : - PART I.-PRELIMINARY; PART H.-AMENDMENTS OF THE STATE ADVANCES ACT; PART 11.- AMENDMENTS OF THE STATE PART HI.-AMENDMENTS OF THE WORKERS' HOMES ACTS AND OTHER ACTS; PART IV.-GENERAL PROVISIONS. ADVAACNTC. ES PART II.-AMENDMENTS OF THE STATE ADVANCES ACT. Construe- 3. (1.) This section shall be read as one with tion; d *" :llhe State Advances Act of 1916," herein referred to in ~f; t~ : ents this Part as the Principal Act, and shall come into ~ dvances operation on the first day of January, one thousand et. nine hundred and thirty-five. * 7 Geo. V. No. 17, supra, page 9603.

BANKS. 14909 PART II.- 1934. State Advances Act, Etc., Amendment Act. AMENDMENTS OF THE STATE The Principal Act and the amendments made ADVAACNTC. ES thereto by this section shall be collectively referred to as " The State Advances Acts, 1916 to 1934." (2.) Section fifteen of the Principal Act is amended, ~f~ ~~~ ~ent as follows :- (a) In paragraph (c) of subsection one the words "four hundred and sixteen" are repealed, and the words "seven hundred and fifty" are inserted in lieu thereof. (b) A new proviso is inserted after subsection one, as follows :- , "Provided that amounts by way of allowance or increase of income payable to any person to meet the increased cost of living on account of being statIOned in different parts of the State shall not be taken into consideration in the estimation of such maximum income of seven hundred and fifty pounds per annum as aforesaid; and for the purposes of this proviso such allowance or increase of income shall be on the basis of the allowance for increased cost of living for the time being payable to officers pursuant to regulations under *" The Public Service Acts, 1922 to 1924," or to employees pursuant to any award or industrial agreement under t " The Industrial Conciliation and ArbitrationAct of 1932" (or any Acts amending such Acts)," (c) In subsection three the words" eight hundred " are repealed and the words "in the case of a wooden dwelling one thousand pounds, and in the case of a brick or concrete dwelling one thousand two hundred and fifty pounds " are inserted in lieu thereof. (d) A new subsection (3A) is added to the said New section fifteen, as follows :_ s 3 u A b . section " (3A.) Notwithstanding anything hereinbefore Certain cont al'ned, where a person, wh 0 " IS marrIed Wl' th three or loawnndetros of more children under sixteen years of age dependent obtain upon hl' m and wh 0 ' IS not the owner 0 f a dwe11m' g- h ouse advances. in Queensland or elsewhere, has been the registered proprietor or holder, or in possession of any land (as * 13 Geo. V. No. 31 and 15 Geo. V. No. 24, supra, pages 10159 and 11089. t 23 Geo. V. No. 36, supra, page 14266.

14910 BANKS. PART II.- AMENDMENTS OF THE State Advances A.ct, Etc., Amendment Act. 25 GEO. V. No. 16', STATlc ADVAKCES ACT. prescribed in paragraph (a) of subsection one of this section) free of encumbrances for a period of twelve months, or such longer time as may be prescribed by the Corporation, the Corporation may make an advane8 to such person to enable him to erect a dwelling-house and thereafter to enlarge or improve such dwelling-house, but such advance shall not exceed eighteen shillings in the pound of the fair estimated value of such land and such dwelling-house: Provided that no advance under this subsection shall exceed five hundred pounds." PART I1I- AMENDMENTS OF THE H~ ~ ~ ~ ~ ~ S PART IlL-AMENDMENTS OF THE "\VORRERS' HOMES AND OTHER ACTS. ACTS AND OTHER ACTS. Amendment 4. (1.) In section 24B of *" The Workers' Homes ~ f; ' j}4B of Acts, 1919 to 1930," the words "and is not let to a Workers' tenant" are repealed. Homes Acts, 1919 to 1930." " Aof T m S h e . e n 2 d 5 m A eonft 1923 (2 to .) 1S9e3c1t, i"onis 2 a 5 m A eonfde t d " a T s h f e ol A lo g w ri s c : ul - tural Bank Acts, Agricultural Bank Acts, (a) In subsection eight, after the words t"" The State 1 1 9 92 3 3 1. t " o Advances Act of 1916," " the words" and also in respect of the Corporation constituted under §" The Workers' Homes Acts, 1919 to 1934,"" are inserted; also the words "of such lastmentioned Act" are repealed and the words "of each of such lastmentioned Acts" are inserted in lieu thereof. (b) A new subsection (SA) is inserted, as follows:- " (BA.) The provisions of this section shall apply and extend to the Workers' Homes Corporation constituted under §" The Workers' Homes Acts, 1919 to 1934," and to every contract of sale which the Corporation shall have entered into or may hereafter enter into, and to every home the subject of any such contract of sale and to the appurtenant land as if the Corporation were * 10 Geo. V. No. 7, 13 Geo. V. No. 21, 16 Geo. V. No. 10, and 21 Geo. V. No. 16, supra, pages 10415, 11316, and 12987. '1"14 Geo. V. No. 41, 20 Geo. V. No. 3, and 22 Geo. V. No. 22, supra, pages 10443, 12429, and 13386. t 7 Geo. V. No. 17, supra, page 9603. § 10 Geo. V. No. 7 and amending Acts. (See * and this Act.)

BANKS. 14911 PART III- 1934. State Advances Act, Etc., Amendment Act. AMENDMENTS OF THE WORKERS' HOMES ACTS named in the said section in place of the Bank, and as if AND OTHER every such home and the appurtenant land were land ACTS. and improvements concerning which an advance had been made upon the security of a mortage, and as if every such contract of sale were a mortgage to secure an advance, and as if the cancellation of such a contract by the Corporation or the entering into and taking possession of any home and the appurtenant land were an entering into and taking possession of mortgaged land and improvements in exercise of powers under a mortgage, and as if the subsequent entering into by the Corporation of a fresh contract of sale were a sale of land and improvements by a mortgagee exercising power of sale. The provisions of this subsection shall be deemed to have been inserted therein at the date of the passing of *" The Workers' Homes Act of 1919." " (c) In subsection nine, after the words" passing of that Act," where they lastly occur, the following words are inserted, namely :-" and in respect of t" The Workers' Homes Acts, 1919 to 1934," shall be deemed to have been inserted therein at the date of the passing of *" The Workers' Homes Act of 1919."" (3.) The amendments made by this section shall take Operation of effect from the commencement of *" The Workers' Homes amendments. Act of 1919," and t" The Workers' Homes Acts, 1919 to 1930" (as amended by this section) shall be collectively cited as" The Workers' Homes Acts, 1919 to 1934." PART IV.-GENERAL PROVISIONS. PART IV.- GENERAL (A) Amendment of §" The State Housing Relief Act of PROVISIONS. 1930." 5. The amendments made to §" The State Housing Amendment Relief Act of 1930" by this Act, and such Act, may ~ ~ ~ ; the collectively be cited as " The State Housing Relief Acts, Housing 1930 to 1934." ~elf' f.& t., ~t * 10 Geo. V. No. 7, supra, page 9164. t 10 Geo. V. No. 7 and amending Acts. t 10 Geo. V. No. 7 and amending Acts, supra, pages 10415 et seq. § 21 Geo. V. No. 30, supra, page 12928.

14912 PARTIV.- GENERAL PROVISIONS. BANKS. State Advances Act, Etc., Amendment Act. 25 GEO. V. No. 16, New ss. 6A 6. The following new sections (6A) and (6B) are and 6B. inserted after the heading "PART IV.-GENERAL" of *" The State Housing Relief Act of 1930," as follows :- Relief to borrowers under mortgage and purchasers under contract of sale. "[6A.] Subject as hereinafter provided, for the purpose of affording a measure of relief to a borrower, as referred to in Part Il. of this Act, and to a purchaser, as referred to in Part Ill. of this Act, and who was a borrower under a mortgage executed prior to the first day of January, one thousand nine hundred and thirty- five, but existing on the first day of January, one thousand nine hundred and thirty-five, and who was a purchaser under a contract of sale made prior to the first day of January, one thousand nine hundred and thirty-five, but existing on the first day of January, one thousand nine hundred and thirty-five, the following provisions shall apply and be observed namely :- Funding of BIrears. (i.) All arrears whether of payments of interest, or of redemption, or of interest and redemption, or arrears of monthly rent, as the case may be, together with any penalties for late payment or non-payment shall as and from the first day of January, one thousand nine hundred arid thirty-five, be funded and become part of the principal sum becoming due and payable on and after such date under a mortgage under the said Part Il. of this Act, or be funded and become part of the outstanding purchase-money becoming due and payable on and after such date by the purchaser in respect of his contract of sale under Part Ill. of this Act; and the State Advances Corporation and the Workers' Homes Corporation is empowered to make any necessary adjustments accordingly. For the purposes of this provision the interest in respect of the funding of interest arrears shall be calculated at the rate per centum prescribed or payable under the original mortgage or contract of sale, as the case may be. Extension (ii.) The existing term within which any advance roefptaeyrmmeonft by way of any such mortgage as aforesaid under the of advances State Advances Act shall be repaid by the borrowet· munodretgrage. tshheallSbtaeteexAtednvdaendcefsorCoarpfourrathtieorn piesrieomdpoofwteernedyetaorsm, aankde * 21 Geo. V. No. 30, 8upra, page 12928.

1934. BANKS. State Advances Act, Etc., Amendment Act. 14913 PART IV.- GENERAL PROVISIONS. any adjustment in the repayments of principal and interest (which interest as from the first day of January, one thousand nine hundred and thirty-five, shall be at the rate prescribed in section seven of *" The State Advances Act and Other Acts Relief Amendment Act .01 1934") as may be necessary with respect to such extension of such term. ( iii.) The existing term withiIi which the purchase- Extension of; money under any such contract of sale under the !:-:':ding. Workers' Homes Act pursuant to Part Ill. of this Act payments. shall be paid by the purchaser shall be extended for ~ ; act o( a further period of ten years, and the Workers' Homessale. Corporation is empowered to make any adjustment in the monthly rent due and payable under the contract of sale and interest (which interest shall, as from the first day of January, one thousand nine hundred and thirty-five, be at the rate prescribed in section seven of *" The State Advances Act and Other Acts Relief Amendment Act of 1934 ") as may be necessary with respect to such extension of such term: (iv.) Provided always that where in the case of~ imitation paragraph (ii.) a borrower under Part Il. of this Act, or~ ~ = Iect of in the case of paragraph (iii.) a purchaser under Part already Ill. of this Act, has been granted relief by way of an extended. extension of the term for the repayment of principal and interest under his mortgage, or an extension of the term for the payment of the monthly rent due and payable under his contract of sale, as the case may be, such extension granted under the provisions of this section shall together with any extension granted under t" The State Housing Relief Act of 1930 " not exceed in the whole a period of ten years beyond the original term fixed in such mortgage or contract of sale [6B.] The Minister may by delegation authorise and Power <?f arrange with the State Advances Corporation whereby delegatIOn. such State Advances Corporation shall be the fully constituted deputy and attorney of and for the Minister to manage and conduct the whole or any part of the business of the Minister under this Act; and to the intent ~ hat where the Minister is empowered or required * This Act. t 21 Geo. V. No. 30, 8upra, page 12928.

14914 PART IV.- GEXERAL PROYISIOXS. BANKS. State Advances Act, Etc., Amendment Act. 25 GEO. V. No. 16, to exercise or discharge any power, authority, or duty the same may be exercised or discharged by the State Advances Corporation. The Minister may in like manner revoke any such delegation without prejudice to any power or authority or the legality or effect of any matter or thing exercised, performed, or done by the Corporation in the exercise of any such delegation." (B) Interest Payments. Rate of 7. The following provisions shall apply III respect , iandtveraensctesonby of interest payments , that is to say:- way of (i.) In respect of advances made by way of ~ : ~ti~ge mortgage executed prior to the first day of resp ect?f January, one thousand nine hundred and opuurtscthaansde-mg th· Irt y- five, and where such mort gage moneys (together with arrears funded as hereinbefore uconndterracts of prOVI' ded)" IS In eXI.st ence on such dat e, and sale as from in respect of advances made by way of i~ ~ t. anuary, mortgage on or after such date by- (a) The State Advances Corporation created under *" The State Advances Acts, 1916 to 1934," or (b) The State Advances Corporation created under *" The State Advances Acts, 1916 to 1934," where such Corporation acts under any law or practice as the deputy of or as attorney or agent for and on behalf of the Crown or Minister of the Crown in respect of advances made under any other Act or law (and without limiting the generality of this provision, including advances made under t" The Discharged Soldiers' Settlement Acts, 1917 to 1930," t" The Clermont Flood Relief Act of 1917," §"The Clermont Flood Relief Act Amendment Act of 1917," I1 "The Clermont Flood Relief Undertaking Act of 1917," and ';" The State Advances Corporation Buildings Improvement Act of 1932 "); * 7 Geo. V. No. 17, supra, page 9603, and this Act. t 7 Geo. V. No. 32 and amending Acts, supra, pages 9453 et seg. t 7 Geo. V. No. 30, supra, page 7677. § 8 Geo. V. No. 15, supra, page 8369. 11 8 Geo. V. No. 3, supra, page 8365. "t[ 23 Geo. V. No. 19, supra, page 14078.

1934. BANKS. State Ad1)ances Act, Etc., Amendment Act. 14915 PART IV.- GENERAL PROVISIONS. (ii.) In respect of any contract of sale made and entered into under *" The Workers' Homes Acts, 1919 to 1934," prior to the first day of January, one thousand nine hundred and thirty-five, and where such contract of sale (together with arrears funded as hereinbefore provided) is in existence on such date, and in respect of any contract of sale made and entered into on or after such date by any person with the Workers' Homes Corporation created under *" The Workers' H~ mes Acts, 1919 to 1934," the rate of interest becoming due and payable on and after the first day of January, one thousand nine hundred and thirty-five, in respect of any such advance made by way of mortgage or becoming due and payable on and after the first day of January, one thousand nine hundred and thirty-five, in respect of any contract of sale as aforesaid, shall, subject as hereinafter provided, in lieu of any rate prescribed in any Act or law referred to in paragraphs (i.) or (ii.) aforesaid, be such rate of interest as is from time to time prescribed by the Governor in Council by Order in Council published in the Gazette: Provided that for the purposes of this section the rate of interest which shall be prescribed by the Governor in Council by Order in Council to enure and have effect as from the first day of January, one thousand nine hundred and thirty-five, shall be at the rate of four pounds per centum per annum; and notwithstanding any Act or law to the contrary such rate so prescribed shall be the rate of interest that shall be due and payable as from the first day of January, one thousand nine hundred and thirty-five, on any advance (together with arrears funded as hereinbefore provided) made by way of mortgage or in respect of any contract of sale (together with arrears funded as hereinbefore provided) .. executed prior to such date but existing on such date, and such rate of interest so prescribed shall continue to be the rate of interest due and payable by the mortgagor or purchaser, as the case may be, in respect of his mortgage or contract of sale from the said * 10 Geo. V. No. 7 and amending Acts, s;'pra, pages 10415 et seq. c

14916 PART IV.- GENEJ.lAL PROVISIONS. BANKS. State Advances Act, Etc., Amendment Act. 25 GEO. V. No. 16, 1934. first day of January, one thousand nine hundred and thirty-five, and for the remaining period of such mortgage or contract of sale: Provided further that-- (a) In respect of any advance approved by way of mortgage or contract of sale made on or after the first day of January, one thousand nine hundred and thirty- five, being after the issue of such Order in Council as. aforesaid prescribing the rate of interest as from the first· day of January, one thousand nine hundred and thirty-five, and before any subsequent Order in Council which may hereafter be made prescribing any other rate of interest due and payable shall have been issued, the rate of interest due and payable in respect of such mortgage or in respect of such contract of sale so executed and made as aforesaid shall be and continue to be the rate of interest due and payable on such mortgage or contract of sale for the duration thereof. (b) In respect of the issue of any Order in Council or Orders in Council subsequent to the issue of the Order in Council prescribing the rate of interest from the first day of January, one thousand nine hundred and thirty-five, the rate of interest due and payable in respect of any advance approved by way of mortgage or contract of sale made during the operation of any such sub- sequent Order in Council or Orders in Council shall for the duration of the mortgage or the contract of sale be and continue to be such rate of interest for the time being as is prescribed in any such subsequent Order in Council when any such advance by way of mortgage was approved or contract of sale was made. And all such Acts or laws referred to aforesaid and having reference to interest due and payable on any mortgage or contract of sale concerned shall be read and construed and amended accordingly, and to the intent that any such Order in Council from time to time so issued shall be read and construed as forming part of the Act concerned and shall be judicially noticed, and shall not be questioned in any proceedings whatsoever. Construction 8. In every case where the relief or any part of of securities. the relief provided by this Act has been extended to any borrower (under mortgage) or to any purchaser (under a contract of sale) every instrument of security given

BANKS. 25 GEO. V. No. 30, 1934. Rural Assistance Board, Etc., Act. 14917 PART IV.- GENERAL PROVISIONS. and whensoever given by such borrower or purchaser as and by way of security (whether the principal security, or collateral thereto) for the advance, or for payment of purchase-money, as the case may be, shall be read and construed as if the provisions of this Act to the extent to which relief has been granted thereunder to him were inserted in each of the said securities as part of the terms and conditions thereof, and the parties thereto shall bp bound accordingly. An Act to Provide for the Appointment of a Rural 25~ ~ o30: ' Assistance Board , and to Amend H The TAHSSEISRTUARNACLE Agricultural Bank Acts, 1923 to 1931," A~ ~ : O~ ; ; ~ AL in certain particulars; and for other purposes. f~ : :D~ ~~ T ACT OF 1934. [ASSENTED TO 6TH DECEMBER, 1934.] B E it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- PART I.-PRELIMINARY. PART 1.- PRELIMINARY. 1. This Act may be cited as " The Rural Assistance Short title. Board and Agricultural'Bank Acts Amendment Act of 1934." 2. This Act shall be divided into Parts, as follows : - P~ ~ tftofA~ ct: PART I.-PRELIMINARY; PART Il.-RuRAL ASSISTANCE BOARD; PART IIl.-AMENDMENTS OF THE AGRICULTURAL BANK ACTS. 3. In this Act, unless the context otherwise indicates, Definitions. the following terms have the meanings respectively set againRt them, that is to say :-- "Bank"-The Corporation of the Agricultural Bank. Bank created by *" The Agricultural Bank Act of 1923 " ; "Rural Assistance Board" or "Board "-The Rural Rural Assistance Board constituted by this ABsosairsdtaonrce Act; Board. * 14 Geo. V. No. 41, supra, page 10443.