QueenslandMORTGAGES(SECONDARYMARKET)ACT1984Reprinted as in
force on 31 March 1995(includes amendments up to Act No. 75
of 1994)Reprint No. 1This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copy
Information about this reprintThis
Act is reprinted as at 31 March 1995.The
reprint—•showsthelawasamendedbyallamendmentsthatcommencedonorbeforethat day
(Reprints Act 1992 s 5(c))•incorporatesallnecessaryconsequentialamendments,whetherofpunctuation,numbering or
another kind (Reprints Act 1992 s 5(d)).Thereprintincludesareferencetothelawbywhicheachamendmentwasmade—see List of legislation and List of
annotations in Endnotes.MinoreditorialchangesallowedundertheprovisionsoftheReprintsAct1992mentioned in the following list have
also been made to—•update citations and references (pt 4,
div 2)•update references (pt 4, div 3)•expressgenderspecificprovisionsinawayconsistentwithcurrentdraftingpractice (s 24)•correctspellingandusedifferentspellingconsistentwithcurrentdraftingpractice (s 26(1) and (2))•use standard punctuation consistent
with current drafting practice (s 27)•useconjunctivesanddisjunctivesconsistentwithcurrentdraftingpractice(s 28)•use expressions consistent with
current drafting practice (s 29)•use
aspects of format and printing style consistent with current
drafting practice(s 35)•omit
provisions that are no longer required (ss 36, 37 and 39)•number and renumber provisions and
references (s 43).Also see Endnotes for information
about—•when provisions commenced•editorial changes made in the reprint,
including—•Table of changed citations and remade
laws•Table of obsolete and redundant
provisions•Table of renumbered
provisions.
s13s3Mortgages (Secondary Market) Act 1984MORTGAGES (SECONDARY MARKET) ACT1984[as amended by all amendments that
commenced on or before 31 March 1995]An Act to
facilitate the operation of a secondary mortgage market inQueensland and for related purposes†PART 1—PRELIMINARY˙Short
title1.This Act may be cited as theMortgages (Secondary Market) Act1984.˙Commencement2.(1)Section 1 and this section shall commence on
the day this Act isassented to for and on behalf of Her
Majesty.(2)Except as is provided by subsection
(1) this Act shall commence on adate to be
appointed by proclamation.˙Definitions3.In this Act—“banking
corporation”means a bank.“commissioner”means the chief
executive of the department within whichthis Act is
administered.“instrument”means any
writing whatever.“manager of mortgages”means a person
who carries on the business ofcollecting
moneys payable by a mortgagor under a mortgage pursuantto
arrangements with the mortgagee under the mortgage.
s34s3Mortgages (Secondary Market) Act 1984“marketablesecurity”meansanypromissorynote,billofexchange,certificate of
entitlement or other security such that either—(a)therighttopaymenthadbytheholderthereoforbyapersonsubrogatedtotherightsoftheholderissecuredbyrights(whether actual
or contingent upon default by a person liable uponthe
security) in respect of or enforceable against a mortgagee'sentitlements under any mortgage or mortgages
secured on land oron land and improvements thereon; or(b)theholderthereofisentitledtothewholeorashareofamortgagee’sentitlementsunderanymortgageormortgagessecured on land
or on land and improvements thereon.“mortgage”means any instrument registered or
registrable in respect oflandorlandandimprovementsthereonassecuringaprimaryobligation of
any person to pay any sum or sums.“registered
issuer”means a person registered under this Act as
an issuerof marketable securities for the purposes of
the secondary mortgagemarket.“registered
trustee”means a person registered under this Act as
a trusteefor the purposes of the secondary mortgage
market.“secondary mortgage market”means the market formed by the
buying,selling,offeringforsaleandissuingof,andofferingtoissue,secondary
mortgage market securities.“secondary mortgage market
security”means a marketable security thatunder this Act may be dealt with on the
secondary mortgage market towhich this Act
applies.“value of a mortgage”means the
outstanding liability of the mortgagorunder a mortgage
in respect of the principal sum secured thereby.
s45s5Mortgages (Secondary Market) Act 1984†PART 2—FUNCTIONS AND POWERS OFCOMMISSIONER˙Functions of commissioner4.The
functions of the commissioner are—(a)to
recommend to the Minister whether a person registered underthis
Act is an appropriate person to continue to be registered;(b)to consider, and make recommendations
to the Minister about,operations on the secondary mortgage
market;(c)tomonitortheactivitiesofeachregisteredtrusteetofindoutwhether the trustee is acting in accordance
with the trust deed towhich the trustee is a party;(d)tomonitortheactivitiesonthesecondarymortgagemarketofpersons registered under this Act and their
compliance with thisAct.˙Powers
of commissioner etc.5.(1)For the purpose
of the discharge of the commissioner’s functionsor
the carrying into effect of the provisions of this Act the
commissioner ora person authorised by the
commissioner—(a)mayatallreasonablehoursenterpremiseswhereapersonregistered under
this Act is carrying on business for the purposesof
which the person is so registered and therein inspect all
books,documentsandrecordspertainingtoorsignificantforthatbusiness,makecopiesofandtakeextractsfromthosebooks,documents and records and require production
by that registeredperson of records pertaining to or
significant for that business insuchformasthecommissioneror,asthecasemaybe,theauthorisedpersonthinksnecessaryordesirableintheproperadministration
of this Act;(b)mayinspectbookskeptbyabankerwhoactsorhasactedasbankertoapersonregisteredunderthisActinrespectofthebusiness carried on by that person and
for the purposes of whichthe person is so registered and make
copies of or take extracts
s66s7Mortgages (Secondary Market) Act 1984from
those books and require production by the banker of suchstatements of account as the commissioner
or, as the case may be,the authorised person thinks necessary
or desirable in the properadministration of this Act;(c)may require a person registered under
this Act to appear beforehim or her for examination on oath or
affirmation and to answerquestionsputtotheperson,anduponsuchexaminationmayadminister an oath or affirmation to that
person.(2)ApersonregisteredunderthisActandabankerreferredtoinsubsection (1) shall provide such
assistance to the commissioner or to aperson authorised
by the commissioner as the commissioner requires forthe
proper administration of this Act.†PART
3—REGISTRATION OF PERSONS TOOPERATE IN
SECONDARY MORTGAGE MARKET˙Certificate of
registration not transferable6.(1)ItisnotcompetenttotheholderofacertificateofregistrationgrantedunderthisActtoassignorconveythecertificatetoanyotherperson.(2)If the holder of a certificate of
registration granted under this Actpurportstoassignorconveythecertificatetoanyotherpersontheregistration shall thereupon cease to
be of any force or effect and the holdershall thereupon
cease to have the status conferred on him or her as holder
ofthe certificate.˙Revocation and suspension of
registration7.(1)Where—(a)the holder of a certificate of
registration, being a natural person—(i)becomes bankrupt or takes advantage of the
laws relating tobankruptcy; or
s77s7Mortgages (Secondary Market) Act 1984(ii)isconvictedofanoffenceinvolvingfraudordishonestypunishablebyimprisonmentforaperiodoforexceeding3 months;
or(iii)isapatientwithinthemeaningoftheMental Health Act1974;(b)the holder of a
certificate of registration, being a body corporate—(i)iscommencedtobewoundup,isunderofficialmanagement or
has ceased to carry on business; or(ii)isabodycorporateinrespectofthepropertyofwhichareceiverormanagerhasbeenappointedbyacourtorotherwise; or(iii)hasenteredintoacompromiseorschemeofarrangementwith its
creditors; or(c)theholderofacertificateofregistrationrequeststhecommissioner to revoke the
registration;the commissioner may, by signed writing,
revoke the registration.(2)If in a case
referred to in subsection (1)(a) or (b), the commissionerconsiders it desirable to do so, the
commissioner may, instead of revoking aregistration,
suspend the registration for a specified period and may at
anytime remove such a suspension.(3)Subject to section 9, if—(a)the holder of a certificate of
registration contravenes or fails tocomply with a
condition of the registration or a provision of thisAct
that regulates the holder’s conduct as holder of the
certificate;or(b)the holder of a
certificate of registration refuses or fails to complywith
a requisition of the commissioner or a person authorised bythe
commissioner directed to the holder pursuant to this Act; or(c)the commissioner is of opinion
that—(i)the holder of a certificate of
registration is not a fit and properperson to be so
registered; or(ii)wheretheholderofacertificateofregistrationisabodycorporate—a
director or secretary of the body corporate or a
s88s8Mortgages (Secondary Market) Act 1984person concerned in the management of the
body corporateis not a fit and proper person to be a
director or secretary oforapersonconcernedinthemanagementofabodysoregistered;the commissioner
may recommend to the Minister that the Minister revokethe
registration.(4)If in a case referred to in subsection
(3)(a) or (b) the commissionermay,insteadofrecommendingrevocationofaregistration,recommendsuspension of the registration for a
specified period.(5)TheMinistermay,havingregardtothecommissioner’srecommendationinthematter,revokearegistrationorsuspendaregistrationforsuchperiodastheMinisterthinksfit,ineithercasebysigned writing.(6)Notification of any revocation or suspension
of any registration shallbe given to the holder of the
certificate of registration, personally or by postaddressed to the holder’s principal place of
business or ordinary place ofresidence last
known to the Minister.(7)Aregistrationthatissuspendedshallbedeemedrevokedfortheperiod of
suspension.(8)Where a registration is revoked or
while it is deemed to be revokedfor a period of
suspension the person who held the certificate of
registrationimmediately before the revocation or
suspension shall cease to possess thestatus conferred
on the person as holder of the certificate.˙Notification of changes in control of
registered persons8.(1)A body corporate
that is a registered person under this Act shallnotify the commissioner in writing of any
change in the composition of itsboard of
directors or other governing body or in the identity of its
secretarywithin 14 days after the change
occurs.Maximum penalty—20 penalty units.(2)Where a change occurs in the
membership of a partnership to whichregistration has
been granted under the Act each member of the partnershipshall
notify the commissioner in writing of the change within 14 days
afterthe change occurs.
s
99s 10Mortgages
(Secondary Market) Act 1984Maximum
penalty—20 penalty units.(3)Receipt by the
commissioner of one notification of a change in themembership of a partnership shall be taken as
sufficient compliance withsubsection (2) by each of the members
of the partnership in respect of thatchange.˙Opportunity for hearing9.(1)The commissioner
shall not recommend that the Minister revoke orsuspendaregistrationundersection7(3)unlessthecommissionerhasafforded the holder of the certificate of
registration an opportunity to appearatahearingbeforethecommissionerandmakesubmissionsandgiveevidence to the
commissioner in relation to the matter and to that end maygive
to the holder concerned notice of the time and place when and
wherethe holder may appear before the commissioner
for that purpose.(2)Atahearingbeforethecommissionertheholdermayappearinperson or by counsel or solicitor.˙Term of registration10.(1)This section
applies to a person who is the holder of a certificate ofregistration under this Act on 31 December
1994.(2)Theregistrationofapersonprescribedbyregulationcontinuesinforce until whichever of the following
happens first—(a)this Act expires or is
repealed;(b)the person’s registration is
revoked.(3)The registration of a person to whom
subsection (2) does not applycontinues in
force until whichever of the following happens first—(a)the person’s registration
expires;(b)the person’s registration is
revoked.
s
1110s 11Mortgages
(Secondary Market) Act 1984†PART
4—SECONDARY MORTGAGE MARKETSECURITIES˙Interpretation11.(1)In
this part—“commercial mortgage”meansanymortgagethatisnotaresidentialmortgage.“debt-basedsecurity”meansamarketablesecuritytowhichsection3,definition “marketable security’’,
paragraph (a) is apposite.“pass-throughsecurity’’means a marketable security to which section
3,definition “marketable security”, paragraph
(b) is apposite.“prescribed factor”means—(a)in the case of a debt-based
security—the liability upon maturity oftheissuerthereofinrespectofallmarketablesecuritiesissuedunder the scheme under which the debt-based
security is issued;and(b)in the case of a
pass-through security—the value of the first legalmortgages in the control of the trustee
under the trust deed thatrelatestotheschemeunderwhichthepass-throughsecurityisissued.“relevant
mortgage”meansamortgagepursuanttowhicharepayablemoneys against
or in respect of which are enforceable the rights orentitlements conferred by a marketable
security on the holder of thesecurity,
whether as a person entitled to the whole or a share of themortgagee’s entitlements under the mortgage
or otherwise.“repurchase requirement”means a
requirement in a trust deed that relatesto a scheme
under which a marketable security is issued that the trusteeunder the deed or the issuer of the
marketable security shall acquire thesecurity from
the holder thereof whether upon the holder’s request orthe
occurrence of any event.“residentialmortgage”meansamortgagesecuredonlandandimprovementsusedbythemortgagorasthemortgagor’sresidence,and for no other
purpose.
s
1211s 12Mortgages
(Secondary Market) Act 1984“value”means in
relation to land or land and improvements thereon thevalue thereof as shown in the valuation
delivered in accordance withsection
12(5).(2)Where any provision of this part
requires the existence of insuranceexpressedas‘40%topup’itshallbetakentorequireacontractofindemnity against default by a mortgagor in
payment of the mortgagor’sliabilities under a relevant mortgage
in respect of that part of the moneyspayable pursuant
to the mortgage which exceeds an amount equal to 60% ofthe
value of the land or land and improvements on which the mortgage
issecured.(3)Where 2 or more sets of requirements
contained in a table that isrelevanttoanyprovisionofthispartapplyinrelationtoaparticularmarketable
security, the provision shall be taken to be complied with
inrespect of the marketable security if the
security complies with any of theapplicable sets
of requirements.˙Requirements of secondary mortgage
market securities12.(1)A marketable
security is a secondary mortgage market securityif—(a)the—(i)provisions of this section are
complied with in all respects;and(ii)provisionsofthisAct(otherthanofthissection)thatprescribe in
relation to matters relevant to—(A)marketable securities generally or
marketable securitiesof the class of the marketable
security in question; and(B)schemessuchasthatunderwhichthemarketablesecurity in
question is issued; and(C)trustdeedssuchasthetrustdeedthatrelatestothescheme under which the marketable
security in questionis issued;are complied
with in all respects; and(iii)thecovenantsofthetrustdeedthatrelatestothescheme
s
1212s 12Mortgages
(Secondary Market) Act 1984under which the
marketable security is issued are compliedwith in all
respects.(2)The marketable security shall be
issued under a scheme provided forby a trust deed
executed by a registered issuer and by a registered trustee,who
under the deed is the trustee, and duly approved by the
commissioner.(3)The marketable security shall confer
on the holder thereof either—(a)arighttoreceiveapaymentoranindemnitysecuredbyorenforceable
against rights arising under the trust deed; or(b)an
entitlement specified in the trust deed.(4)The
rights or entitlements conferred by the marketable security on
theholder thereof are, upon its issue, or will
be, within 60 days after its issue,or within such
longer period not exceeding 90 days as the Minister may in aparticular case allow by signed instrument,
exercisable against or in respectof moneys payable
pursuant to first legal mortgages secured on land or landand
improvements thereon being mortgages—(a)ofwhichthetrusteeunderthetrustdeedreferredtoinsubsection (2) is the registered
mortgagee or is entitled pursuanttothattrustdeedtobecometheregisteredmortgageeupondemand by the
trustee; and(b)that are provided for by instruments
of mortgage in the control ofthe trustee
under the trust deed referred to in subsection (2); and(c)in respect of which the mortgagee is
indemnified to the extentprescribedbyanapprovedinsureragainstdefaultbythemortgagor in
payment of the mortgagor’s liability thereunder.(5)Before the marketable security is
issued there shall be delivered to thetrustee under the
trust deed referred to in subsection (2) a valuation of theland
or land and improvements thereon on which are secured the first
legalmortgages referred to in subsection (2) being
a valuation—(a)made within 12 months or such other
time as is acceptable to thetrustee before
the time of its delivery to the trustee.(6)At
the time the marketable security is issued, the amount that
willbecome payable in respect of all marketable
securities issued or to be issuedunder the scheme
to which the trust deed referred to in subsection (2)
relatesshall not exceed the aggregate of
the—
s
1313s 13Mortgages
(Secondary Market) Act 1984(a)amount outstanding in respect of principal
sums secured by thefirst legal mortgages committed to the
control of the trustee underthat trust deed;
and(b)theamountofallsumsofmoneyheldbyorpayabletotheregistered
trustee for the purposes of the trust deed; and(c)the
face value of investments held by the registered trustee for
thepurposes of the trust deed.(7)The value of each first legal mortgage
committed to the control of thetrusteeunderthetrustdeedthatrelatestotheschemeunderwhichthemarketable security is issued shall not
exceed—(a)in the case of a mortgage secured on
land and improvements usedby the mortgagor as the mortgagor’s
residence—90%; or(b)in the case of a mortgage secured on
any other land or land andimprovements thereon—80%;ofthevalue,asshowninthevaluationdeliveredinaccordancewithsubsection (5), of the land or land and
improvements thereon on which themortgage is
secured.˙Requirements of trust deed13.(1)A trust deed
referred to in section 12(2)—(a)shallhaveasapartytheretoaregisteredtrusteewhointhecommissioner’sopinionhastheappropriatedegreeofindependence having regard to the
functions, duties and powers ofthe trustee
under the trust deed; and(b)shall make
provision that in the commissioner’s opinion is fairand
reasonable for the retirement, removal and replacement of
thetrustee; and(c)shall provide for such other matters and
things as are prescribedor as the commissioner
requires.(2)A trust deed referred to in section
12(2) shall contain—(a)a covenant that
the proportion borne by the value of the first legalmortgages committed to the control of the
trustee under the trustdeed to the value of the land or land
and improvements thereon on
s
1314s 13Mortgages
(Secondary Market) Act 1984which the
mortgages are secured, being the value shown in thevaluations delivered in accordance with
section 12(5), shall notexceed—(i)in
the case of mortgages secured on land and improvementsused
by the mortgagor as the mortgagor’s residence—90%of
that value; or(ii)in the case of
mortgages secured on any other land or landand improvements
thereon—80%;(b)acovenantthatatalltimesthefacevalueofthemarketablesecurities
issued under the scheme to which the trust deed relatesshall not exceed—(i)in a
case to which section 17(b)(iii) is relevant and while itremains relevant—the value of the cash or
investments (orboth)withinthedispositionofthetrusteeunderthetrustdeed in
accordance with that subparagraph; or(ii)in
any other case—the aggregate of—(A)the
principal sums secured by the first legal mortgagescommitted to the control of the trustee
under the trustdeed in accordance with section 12(4);
and(B)the amount of all sums held by or
payable to the trusteefor the purposes of the trust deed;
and(C)the face value of investments held by
the trustee for thepurposes of the trust deed;(c)a covenant that the registered issuer
shall, upon the issue of anymarketablesecurityundertheschemetowhichthetrustdeedrelates and at all times thereafter while
any marketable securitiesissued under the scheme are
outstanding—be assured of liquidityto the extent
prescribed in relation to the class or classes of theoutstanding marketable securities;(d)acovenantthattheprescribedprudentialrequirementsthatarerelevant to the class or classes of
marketable securities issued orto be issued
under the scheme to which the trust deed relates shallbe
complied with in all respects.
s
1415s 14Mortgages
(Secondary Market) Act 1984˙Prudential requirements concerning marketable
securities14.(1)A marketable
security of a class referred to in the following table,column1isnotasecondarymortgagemarketsecurityunless,whereapercentage within the range specified
in the table, column 2 expresses theproportion borne
by—(a)the value of each relevant mortgage to
the value of the land or landand improvements
on which it is secured; or(b)the amount that
will be payable upon maturity of the marketablesecurityandallothermarketablesecuritiesissuedunderthescheme in question to the value of all
relevant mortgages;thereexistsinrespectofeachrelevantmortgageanindemnitybyanapprovedinsurertothemortgageeagainstdefaultbyeachmortgagorinpayment of the mortgagor’s liability
under the mortgage to the extent of thepercentage
specified in the following table, column 3 (opposite the range
inquestion) of the mortgagor’s liability under
the mortgage.(2)A marketable security of a class
referred to in the following table,column1isnotasecondarymortgagemarketsecurityunless,whereapercentage within the range specified
in the table, column 2 expresses theproportion borne
by—(a)the value of all relevant mortgages to
the value of the land or landand improvements
on which they are secured; or(b)the
amount that will be payable upon maturity of the marketablesecurityandallothermarketablesecuritiesissuedunderthescheme in question to the value of all
relevant mortgages;theregisteredissuerofthemarketablesecurityshall,atthetimetheregistered issuer issues the security and at
all times thereafter until maturitythereof be
assured of liquidity to the extent of the percentage specified in
thefollowing table, column 4 (opposite the range
in question) of the prescribedfactor.
s
1416s 14Mortgages
(Secondary Market) Act 1984TABLE RELEVANT
TO SUBSECTIONS (1) AND (2)Column 1Column 2Column 3Class of
securityProportion ofmortgage value
toproperty value orof securities
valueto mortgages valueIndemnity
insurancerequirementdebt-basedsecurityover 80% to
90%100%dittoover 60% to
80%100% if relevantmortgage is
aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgageColumn 4LiquidityrequirementnilnilColumn 1Column 2Column 3Class of
securityProportion ofIndemnity
insurancemortgage value torequirementproperty value
orof securities valueto mortgages
valuedittoover 60% to 90%nildittoto 60%nilpass-throughsecurityover
80% to 90%100%dittoover 50% to
80%100% if relevantmortgage is
aresidentialmortgageColumn 4Liquidityrequirement100%nil10% if there is arepurchaserequirement:otherwise
nil10% if there is arepurchaserequirement;otherwise
nil
s
1517s 15Mortgages
(Secondary Market) Act 198440% top up ifrelevant
mortgageis a commercialmortgagedittoto 50%nil10%
if there is arepurchaserequirement;otherwise
nil(3)Notwithstandingtheprovisionsofsubsection(1)andthetablerelevantthereto,wherearelevantmortgageissecuredonanestateofleasehold in land or land and improvements
thereon the indemnity requiredagainst default
in payment of a mortgagor’s liability under the mortgageshall
be to the extent of 100% of that liability.˙Form
of liquidity15.(1)Theliquidityofwhicharegisteredissuerisrequiredbysection 14(2) to be assured shall be in the
form of—(a)lines of credit with or a guarantee
given by a banking corporation;or(binvestments of a description specified
in section 21(1)(e) or (f) oftheTrusts Act 1973;or
partly in one and partly in another or others of those
forms.(2)Where the liquidity is in the form of
lines of credit or a guarantee—(a)the
lines of credit or guarantee shall be irrevocable during the
lifeof any security issued under the scheme in
connection with whichthe liquidity is assured except to the
extent that revocation thereofwould not limit
or restrict the registered issuer’s capacity to meetthe
registered issuer’s liabilities in respect of marketable
securitiesthen issued by the registered issuer under
the scheme; and(b)the documentation in respect thereof
shall be such that the bankingcorporation
providing the liquidity is under a duty enforceable atlaw
to honour its obligations in respect of the provision of theliquidity.
s
1618s 17Mortgages
(Secondary Market) Act 1984˙Availability of prescribed liquidity16.A registered issuer shall keep the
liquidity of which the registeredissuer is
required by section 14(2) to be assured available for the
purposeonly of honouring the registered issuer’s
liabilities in respect of marketablesecurities issued
by the registered issuer under the scheme in connectionwith
which the liquidity is assured.˙Authorised trustee investment17.A secondary mortgage market security
is a security in which a trusteemay invest trust
funds—(a)therightsorentitlementsconferredbyitareorwillbe(asprovidedbysection12(4)exercisableagainstorinrespectofmoneys payable pursuant to first legal
mortgages secured on landorlandandimprovementsthereoninrespectofwhichthemortgagee registered on the relevant
instrument of title is or willbe the trustee
under the trust deed that relates to the scheme underwhich the secondary mortgage market security
is issued; and(b)the provisions of section 14 are
complied with in respect of it,with the
following table substituted for the table provided for bythat
section; and(c)during the period until the trustee
has in the trustee’s control firstlegal mortgages
as required by paragraph (c) of section 12(4) thetrustee under the trust deed referred to in
paragraph (a)—(i)shallhavewithinthetrustee’sdispositioncashorinvestments, such as are referred to
in section 21(1)(e) or (f)of theTrusts Act
1973, to an amount at least equal to the
facevalue of the marketable securities issued;
or(ii)shall be
satisfied that there exists a guarantee or line of creditwith
a banking corporation or a contract of indemnity withanapprovedinsureroralegallyenforceablearrangementbetweenthetrusteeandthepersonwhoistoissuemarketable securities pursuant to the trust
deed whereby (inany such case) the trustee will be able to
realise a sum at leastequal to the face value of the
marketable securities from timeto time issued
pursuant to the trust deed.
s
1719s 17Mortgages
(Secondary Market) Act 1984TABLEColumn 1Column 2Column 3Class of
securityProportion ofmortgage value
toproperty value orof securities
valueto mortgages valueIndemnity
insurancerequirementColumn 4Liquidity requirementdebt-basedsecuritydittodittodittodittodittoover 80% to 90%100%over
75% to 80%over 662/3% to75%over 50% to662/3%to 50%to 90%100%
if relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgage100% if
relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgage100% if
relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgagenilnil25%15%12.5%10%10%100%
s
1820s 18Mortgages
(Secondary Market) Act 1984pass-throughsecuritydittodittodittodittoover 80% to 90%100%over
75% to 80%over 662/3% to75%over 50% to662/3%to 50%100% if
relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgage100% if
relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgage100% if
relevantmortgage is aresidentialmortgage40%
top up ifrelevant mortgageis a
commercialmortgagenil25%
if there is arepurchaserequirement;otherwise
nil15% if there is arepurchaserequirement;otherwise
nil12.5% if there is arepurchaserequirement;otherwise
nil10% if there is arepurchaserequirement;otherwise
nil10% if there is arepurchaserequirement;otherwise
nil˙Certain exclusions from prudential
requirements18.Amarketablesecurityissuedbyabankingcorporationorbyacorporation with
net tangible assets of a value in excess of $500 millionmay
become and be a secondary mortgage market security
notwithstandingthat the issuer is not at any time assured of
liquidity to the extent required bysection 14(2) or
17 and the tables relevant thereto or at all.
s
1921s 21Mortgages
(Secondary Market) Act 1984˙Certification of securities by
trustees19.The issuer of a secondary mortgage
market security shall not—(a)deliver the
security to a purchaser of it from the issuer; or(b)hold as purchaser the security;unless the security is duly certified as
prescribed by the regulations by thetrustee under the
trust deed relating to the scheme under which the securityis
issued.†PART 5—PROVISIONS AFFECTING
SECONDARYMORTGAGE MARKET˙Restriction on variation of controlled
interest rates20.Where—(a)the
rate of interest payable to or chargeable by a mortgagee
undera mortgage that has been assigned to a
trustee for the purposes ofatrustdeeddulyapprovedbythecommissionerandthatconstitutes
(wholly or in part) security for secondary mortgagemarket securities issued under a scheme to
which the trust deedrelates is a rate that is variable;
and(b)in relation to the mortgagee to whom
the mortgage was originallygiven—the rate
of interest was limited or controlled by law;neither the
trustee nor any mortgagee under the mortgage subsequent to
thetrusteeshallmakeavariationintherateofinterestsuchthat,hadthevariation been made by the mortgagee to
whom the mortgage was originallygiven, the
resultant rate of interest would not have been a permissible
ratehaving regard to the limitation or control
imposed by law in relation to themortgagee to whom
the mortgage was originally given.˙Matters to be reported by trustee21.A registered trustee must tell the
commissioner in writing if—
s
2322s 23Mortgages
(Secondary Market) Act 1984(a)aregisteredissuercontravenesthisActoraconditionofregistration about the trust deed or
arrangements made under thedeed; or(b)someone else does not comply with a
provision of the trust deed.˙Certain instruments exempt from stamp
duty22.(1)If upon
production of an instrument referred to in this subsectionthe
Commissioner of Stamp Duties is satisfied that—(a)theinstrumentisaconveyanceortransferofamortgagetoatrustee in accordance with the terms
of a trust deed duly approvedbythecommissionerpursuanttowhichsecondarymortgagemarket
securities are or are to be issued and that the trust deed
isfor no other purpose; or(b)the
instrument is a conveyance or transfer from a trustee under
atrust deed such as is referred to in
paragraph (a) of a mortgageheld by the
trustee in accordance with the terms of the trust deedtoapersonwhoinrelationtothemortgageisthemanagerofmortgages and that the trust deed is
for no other purpose than thatreferred to in
paragraph (a); or(c)the instrument is a conveyance or
transfer to a trustee under a trustdeed such as is
referred to in paragraph (a) of a security ancillaryor
incidental to a mortgage that is the subject of a conveyance
ortransfer such as is referred to in paragraph
(a) the firstmentionedconveyance or transfer being one in
accordance with the terms ofthe trust deed
and that the trust deed is for no other purpose thanthat
referred to in paragraph (a); or(d)the
instrument is a conveyance or transfer from a trustee under
atrustdeedsuchasisreferredtoinparagraph(a)ofasecurityancillaryorincidentaltoamortgagethatisthesubjectofaconveyance or
transfer such as is referred to in paragraph (b) to apersonwhoinrelationtothemortgageisthemanagerofmortgages, the firstmentioned conveyance or
transfer being one inaccordance with the terms of the trust
deed and that the trust deedis for no other
purpose than that referred to in paragraph (a); or(e)the instrument is a guarantee, letter
of credit or other instrument
s
2423s 26Mortgages
(Secondary Market) Act 1984given or made
solely to satisfy liquidity requirements of this Actinrelationtosecondarymortgagemarketsecuritiesandthecovenant concerning liquidity in a
trust deed such as is referred toin paragraph (a)
and that the trust deed is for no other purposethan that
referred to in paragraph (a); or(f)theinstrumentisatrustdeedsuchasisreferredtoinparagraph (a) and is for no other
purpose than that referred to inparagraph
(a);the instrument is exempt from stamp duty
under theStamp Act 1894.(2)If an instrument is—(a)a secondary mortgage market security;
or(b)aconveyanceortransferofasecondarymortgagemarketsecurity;it is
exempt from stamp duty under theStamp Act
1894.˙Exclusion of certain provisions of
Stamp Act 189423.(1)The provisions
of sections 31C and 31D of theStamp Act
1894donot apply in respect of sales or
purchases of secondary mortgage marketsecurities.(2)The
sale, purchase, discounting or acquisition of—(a)a
mortgage that, in consequence, is conveyed or transferred to
atrusteeunderatrustdeeddulyapprovedbythecommissionerpursuant to
which secondary mortgage market securities are orare
to be issued where the trust deed is for no other purpose;
or(b)a secondary mortgage market
security;shall not be construed to be a transaction
that constitutes a loan or discounttransaction to
which sections 35 to 35H of theStamp Act
1894apply.(3)The
provisions of section 68A of theStamp Act
1894do not apply toa trustee under a
trust deed duly approved by the commissioner pursuant towhichsecondarymortgagemarketsecuritiesareoraretobeissued,inrespect of debentures being such securities
issued pursuant to the trust deedwhere the trust
deed is for no other purpose.(4)Ascheme,providedforbyatrustdeeddulyapprovedbythe
s
2724s 29Mortgages
(Secondary Market) Act 1984commissioner, for
the issue of secondary mortgage market securities is nota
unit trust scheme within the meaning of section 56B of theStamp Act1894.˙Certain
instruments exempt from registration fees24.If
upon production for registration of an instrument referred to in
thissection the Registrar of Titles is satisfied
that—(a)the instrument, being a conveyance or
transfer of a mortgage, is aconveyance or
transfer of a mortgage to a registered trustee for thepurposes of a trust deed duly approved by
the commissioner; or(b)the instrument,
being a conveyance or transfer of a mortgage heldbyaregisteredtrusteeforthepurposesofatrustdeeddulyapproved by the commissioner, is a
conveyance or transfer of themortgage from
the registered trustee to a person who in relation tothat
mortgage is the manager of mortgages;no fees shall be
payable under theLandTitleAct1994in respect of
theinstrument.˙Person
may not manage certain mortgages unless registered25.A person—(a)shall not be a manager of mortgages;
or(b)shall not advertise or announce
himself or herself or hold himselfor herself out
as being a manager of mortgages;pursuant to
arrangements with a registered trustee for the purposes of a
trustdeed pursuant to which secondary mortgage
market securities are or are tobe issued unless
the person is a registered issuer.Maximum
penalty—20 penalty units.˙Protection of
trustee etc. against incorrect certification26.Apersonwhoinvestsinthepurchaseofasecondarymortgagemarket security certified as required by
section 19 to be a security in which atrusteemayinvesttrustfunds(whatevertermsmaybethereinused)
s
3125s 31Mortgages
(Secondary Market) Act 1984moneysheldbythepersonunderafiduciaryrelationshipbornebytheperson (as a
trustee or otherwise) to any other person or persons shall
notincur any liability as for a breach of that
relationship or for loss incurred onthe investment,
by reason that the marketable security is not what it is socertified to be.˙Offence of falsely representing marketable
securities27.A person shall not—(a)issueaninstrumentthatpurportstobeasecondarymortgagemarket security;
or(b)hold out an instrument, issued by the
person or any other person,to be a
secondary mortgage market security;unless the
provisions of this Act that are to be complied with in respect of
amarketable security, if it is to be a
secondary mortgage market security,have been
complied with in all respects in respect of that instrument.Maximum penalty—1 000 penalty units or
imprisonment for 2 years.†PART 6—GENERAL
PROVISIONS˙Evidentiary provision28.A description in a complaint of a
defendant as a registered person ofany description
under this Act is evidence of that fact.˙Regulations29.(1)The
Governor in Council may make regulations under this Act.(2)Without limiting subsection (1), a
regulation may—(a)prescribe a person to be an approved
insurer under this Act; or(b)prescribe
particulars and covenants to be contained in trust deedslodged with the commissioner;
or
s
3126s 31Mortgages
(Secondary Market) Act 1984(c)prescribe the requirements of a
certification by a registered trusteeof marketable
securities issued under a trust deed; or(d)prescribematterstobecompliedwithbyapersonregisteredunder this Act
in operating on the secondary mortgage market.˙Expiry
of Act31.This Act expires on 1 January 1998 or,
if an earlier day is prescribedby regulation,
the earlier day.
27Mortgages (Secondary Market) Act
1984†ENDNOTES´1Index to EndnotesPage2Date to which amendments incorporated
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
273List of legislation . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . 274List of annotations. . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . 295Table of changed
citations and remade laws . . . . . . . . . . . . . . . . . . . . .
. . . . . . 356Table of obsolete and redundant
provisions . . . . . . . . . . . . . . . . . . . . . . . . . . . .
357Table of renumbered provisions. . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35´2Date to which
amendments incorporatedThisisthereprintdatementionedintheReprintsAct1992,section5(c).Accordingly,thisreprintincludesallamendmentsthatcommencedoperationonorbefore31March1995.FutureamendmentsoftheMortgages(SecondaryMarket)Act
1984 may be made in accordance with this reprint under the Reprints
Act 1992,section 49.´3List of legislationMortgages (Secondary Market) Act 1984 No.
67date of assent 20 September 1984ss
1–2 commenced on date of assentremainingprovisionscommenced3December1984(procpubdGaz4December 1984 p
1763)Note—ThisActexpires1January1998oronanearlierdateprescribedbyregulation (see s 57)as amended
by—Mortgages (Secondary Market) Act Amendment
Act 1984 No. 106date of assent 12 December 1984commenced on date of assentMortgages (Secondary Market) Act Amendment
Act 1985 No. 46date of assent 24 April 1985ss
1–2 commenced on date of assentremainingprovisionscommenced13May1985(procpubdGaz11May1985pp 680–1)
28Mortgages (Secondary Market) Act
1984Mortgages(SecondaryMarket)ActAmendmentAct1985(No.2)No.107(asamd
1994 No. 87 s 4(1) sch 3 pt 2 (from 1 December 1994))date
of assent 18 December 1985ss 1–3 commenced on date of
assentsuch part of s 15 as inserts ss 29(1)(b) and
29(2)(d)(ii) into Principal Act neverproclaimed into
force and omitted 1994 No. 87 s 4(1) sch 3 pt 2remainingprovisionscommenced22March1986(procpubdGaz22March1986
p 1177)Statute Laws Miscellaneous Provisions Act
1989 No. 103 s 3 schdate of assent 25 October 1989commenced on date of assentStatute Laws Miscellaneous Provisions Act
1990 No. 88 s 3 schdate of assent 6 December 1990commenced on date of assentCorporations (Consequential Amendments) Act
1990 No. 99 s 3.1 schdate of assent 6 December 1990ss
1.1–1.2 commenced on date of assents3.1schcommenced1January1991(procpubdGaz22December1990p 2270)Building Units and
Group Titles Act 1994 No. 69 s 229 sch 2date of assent 1
December 1994ss 1–2 commenced on date of assentremaining provisions not yet proclaimed into
forceTreasury Legislation Amendment Act (No. 2)
1994 No. 75 pts 1–2date of assent 1 December 1994ss
1–2 commenced on date of assentss 4(3), 20(1)
commenced 18 March 1995 (see s 2(3))remaining
provisions commenced 1 January 1995 (see s 2(2))
29Mortgages (Secondary Market) Act
1984´4List of
annotationsKey to abbreviations in list of
annotationsamdchdefdivexphdginsomprecpresprev(prev)provptR1RArenumsdivsub===================amendedchapterdefinitiondivisionexpires/expiredheadinginsertedomittedprecedingpresentpreviouspreviouslyprovisionpartReprint No. 1Reprints Act
1992renumberedsubdivisionsubstitutedProvisions not
included in reprint, or amended byamendments not
included in reprint, are underlinedCommencements 2amd
1989 No. 103 s 3 schArrangement of Acts 3amd
1985 No. 107 s 4om R1 (see RA s 36)Definitionsprov
hdgsub 1994 No. 75 s 4(1)s 3amd
1984 No. 106 s 2(e); 1985 No. 107 s 5(g); 1994 No. 75 s 4(5)def“approved insurer”om 1994 No. 75 s
4(2)def“banking corporation”sub
1984 No. 106 s 2(a); 1994 No. 75 s 4def“Board”ins 1985 No. 107
s 5(a)om 1994 No. 75 s 4(2)def“Commission”om 1994 No. 75 s
4(2)def“commissioner”sub 1990 No. 99 s
3.1 schdef“instrument”ins 1985 No. 107
s 5(b)def“land”ins 1985 No. 107
s 5(b)amd 1994 No. 69 s 229 sch 2om
1994 No. 75 s 4(2)def“marketable security”ins
1984 No. 106 s 2(b)sub 1985 No. 107 s 5(c)def“Minister”sub 1990 No. 88 s
3 schom 1994 No. 75 s 4(2)def“mortgage”ins 1985 No. 107
s 5(d)def“registered finance-mortgage
broker”om 1994 No. 75 s 4(3)def“registered packer”om 1994 No. 75 s
4(3)
30Mortgages (Secondary Market) Act
1984def“secondary mortgage market”amd
1984 No. 106 s 2(c)sub 1985 No. 107 s 5(e)def“secondary mortgage market security”ins
1985 No. 107 s 5(f)def“value of a mortgage”amd
1984 No. 106 s 2(d)PART 2—MORTGAGE SECONDARY MARKET BOARDpt
hdgsub 1985 No. 107 s 6; 1994 No. 75 s 5The
Boards 5amd 1984 No. 106 s 3; 1985 No. 107 s
7om 1994 No. 75 s 6Term of
appointments 6amd 1984 No. 106 s 4om
1994 No. 75 s 6Disqualification for appointments
7om 1994 No. 75 s 6Casual vacancy in
Board’s memberships 8amd 1984 No. 106 s 5; 1989 No. 103 s 3
schom 1994 No. 75 s 6Fees and
allowancess 9om 1994 No. 75 s 6Proceedings of
Boards 10om 1994 No. 75 s 6Deputy
memberss 11amd 1984 No. 106 s 6om
1994 No. 75 s 6Secrecys 11Ains
1984 No. 106 s 7om 1994 No. 75 s 6Validity of
Board’s determinationss 12om 1994 No. 75 s
6Functions of commissioners 4sub
1994 No. 75 s 7Powers of commissioner etc.s
5amd 1994 No. 75 s 8Secretary of Board
and assistances 15om 1994 No. 75 s 9Annual
reports 16om 1994 No. 75 s 9PART3—REGISTRATIONOFPERSONSTOOPERATEINSECONDARYMORTGAGE
MARKETpt hdgins 1985 No. 107
s 8
31Mortgages (Secondary Market) Act
1984Registration to allow operation on secondary
mortgage markets 17amd 1984 No. 106 s 8; 1985 No. 107 s
9om 1994 No. 74 s 10Registration
procedures in prescribed casess 18ins
1985 No. 107 s 10renum as s 19 1985 No. 107 s 31om
1994 No. 75 s 10Determination by Governor in Councils
19renum as s 20 1985 No. 107 s 31om
1994 No. 75 s 10Issue of certificate of registrations
20renum as s 21 1985 No. 107 s 31om
1994 No. 75 s 10Board may hold hearings 21amd
1985 No. 107 s 11renum as s 22 1985 No. 107 s 31om
1994 No. 75 s 10Certificate of registration not
transferables 6(prev s 7) renum 1985 No. 107 s
31Revocation and suspension of
registrations 7(prev s 8) renum 1985 No. 107 s
31amd 1985 No. 107 s 32; 1994 No. 75 s
11Notification of changes in control of
registered personsprov hdgsub 1985 No. 107
s 12(a)s 8(prev s 9) amd 1984 No. 106 s 9; 1985
No. 107 s 12(b)–(c); 1994 No. 75s 12renum
1985 No. 107 s 31Opportunity for hearings 9(prev
s 10) renum 1985 No. 107 s 31amd 1985 No. 107
ss 13, 32; 1994 No. 75 s 13Term of registrations
10pres s 10 renum as 27 1985 No. 107 s
31sub 1994 No. 75 s 14Register of
registered personss 27prev s 27 amd 1984 No. 106 s 11; 1985
No. 46 s 3om 1985 No. 107 s 15pres s 27 (prev s
26) renum 1985 No. 107 s 31om 1994 No. 75 s 14Interpretations 11om
1985 No. 107 s 18new s 11 (prev s 26A) ins 1984 No. 106 s
10renum 1985 No. 107 s 31om 1994 No. 75 s
14
32Mortgages (Secondary Market) Act
1984pres s 11 (prev s 36) ins 1985 No. 107 s
19renum 1994 No. 75 s 15PART 4—SECONDARY
MORTGAGE MARKET SECURITIESpt hdgsub 1985 No. 107
s 14Restriction on variation of controlled
interest ratess 27Ains 1984 No. 106 s 12om
1985 No. 107 s 17Registered trustee to report defaults
27Bins 1985 No. 46 s 4om 1985 No. 107 s
17Requirements of secondary mortgage market
securitiess 12prev s 29 om 1985 No. 107 s 20pres
s 29 ins 1985 No. 107 s 15amd 1989 No. 103 s 3 schRequirements of trust deeds
13prev s 30 sub 1984 No. 106 s 13om
1985 No. 107 s 22pres s 30 ins 1985 No. 107 s 16Prudential requirements concerning marketable
securitiess 14prev s 31 sub 1984 No. 106 s 13om
1985 No. 107 s 22pres s 31 ins 1985 No. 107 s 16Form
of liquiditys 15prev s 32 sub 1984 No. 106 s 13om
1985 No. 107 s 21pres s 32 ins 1985 No. 107 s 16Availability of prescribed liquiditys
16prev s 16 renum as s 44 1985 No. 107 s
31pres s 16 ins 1985 No. 107 s 18Authorised trustee investments
17prev s 17 renum as s 45 1985 No. 107 s
31pres s 17 ins 1985 No. 107 s 23amd
1989 No. 103 s 3 sch; 1990 No. 88 s 3 sch; 1994 No. 87 s (4)(1) sch
3pt 2Certain exclusions from prudential
requirementss 18prev s 18 amd 1984 No. 106 s 14om
1985 No. 107 s 25pres s 18 ins 1985 No. 107 s 19Interpretations 36prev
s 36 renum as s 49 1985 No. 107 s 31pres s 36 ins
1985 No. 107 s 19renum as s 28 1994 No. 75 s 15
33Mortgages (Secondary Market) Act
1984Certification of securities by
trusteess 19prev s 19 renum as s 50 1985 No. 107 s
31pres s 19 ins 1985 No. 107 s 20PART
5—PROVISIONS AFFECTING SECONDARY MORTGAGE MARKETpt
hdgins 1985 No. 107 s 21Approval for
standard trust deedss 38prev s 38 renum as 51 1985 No. 107 s
31pres s 38 ins 1985 No. 107 s 21om
1994 No. 75 s 16Restriction on variation of controlled
interest ratess 20prev s 20 renum as s 52 1985 No. 107 s
31pres s 20 ins 1985 No. 107 s 21Matters to be reported by trustees
21prev s 21 renum as s 53 1985 No. 107 s
31pres s 21 ins 1985 No. 107 s 21sub
1994 No. 75 s 17Exclusion of Money Lenders Acts
41prev s 41 renum as s 54 1985 No. 47 s
31pres s 42 ins 1985 No. 107 s 21om
1994 No. 75 s 17Certain instruments exempt from stamp
dutys 22prev s 22 renum as s 55 1985 No. 107 s
31pres s 22 ins 1985 No. 107 s 22amd
1990 No. 99 s 3.1 sch; 1994 No. 75 s 18Exclusion of
certain provisions of Stamp Acts 23prev
s 23 renum as s 56 1985 No. 107 s 31pres s 23 ins
1985 No. 107 s 22amd 1989 No. 103 s 3 sch; 1990 No. 99 s 3.1
sch; 1994 No. 75 s 19Certain instruments exempt from
registration feess 24(prev s 33) om 1984 No. 106 s
13pres ins as s 33 1985 No. 46 s 5renum
1985 No. 107 s 31Person may not manage certain mortgages
unless registereds 25(prev s 34) ins 1985 No. 107 s
19renum 1985 No. 107 s 31amd 1985 No. 107
s 23; 1994 No. 75 s 20Protection of trustee etc. against
incorrect certifications 26ins 1985 No. 107
s 24Offence of falsely representing marketable
securitiess 27ins 1985 No. 107 s 24amd
1994 No. 75 s 21PART IV—PROCURATION FEESpt hdgom
1985 No. 107 s 25
34Mortgages (Secondary Market) Act
1984PART VI—PROCURATION FEESpt hdgins
1985 No. 107 s 25om 1994 No. 75 s 22Payment of
procuration feess 48ins 1985 No. 107 s 25om
1994 No. 75 s 22Restriction on right to procuration
fees 49(prev s 36) ins 1985 No. 107 s
19amd 1985 No. 107 s 26renum 1985 No.
107 s 31om 1994 No. 75 s 22Expenses
recoverable by brokers 50(prev s 37) ins
1985 No. 107 s 20amd 1985 No. 107 s 27renum 1985 No.
107 s 31om 1994 No. 75 s 22Fees etc. paid in
advance into trust accountss 51(prev s 38) ins
1985 No. 107 s 21amd 1985 No. 107 s 28renum 1985 No.
107 s 31om 1994 No. 75 s 22Retention of fee
dependent on loan or credit for which broker engageds
52(prev s 39) ins 1985 No. 107 s 21amd
1985 No. 46 s 6; 1985 No. 107 s 29renum 1985 No.
107 s 31om 1994 No. 75 s 22Refund order where
fees unlawfully obtaineds 53(prev s 40) ins
1985 No. 107 s 21amd 1985 No. 107 s 30renum 1985 No.
107 s 31om 1994 No. 75 s 22PART 6—GENERAL
PROVISIONSpt hdgamd 1985 No. 107
s 32Evidentiary provisionss 28(prev
s 41) ins 1985 No. 107 s 21renum 1985 No. 107 s 31sub
1994 No. 75 s 23Regulationss 29(prev
s 42) ins 1985 No. 107 s 22renum 1985 No. 107 s 31sub
1994 No. 75 s 23Numbering and renumbering of Acts
30(prev s 43) ins 1985 No. 107 s 22renum
1985 No. 107 s 31
35Mortgages (Secondary Market) Act
1984sub 1994 No. 75 s 23om R1 (see RA s
37)Expiry of Acts 31ins
1994 No. 75 s 23´5Table of changed
citations and remade lawsTABLE OF CHANGED CITATIONS AND REMADE
LAWSunder the Reprints Act 1992 ss 21A and
22OldNewReference
provisionMental HealthSevices Act
1974Real Property Act1861Mental Health Act1974Land
Title Act 1994Health Services Act 1991s 9.1(2)Land
Title Act 1994 s 191´6Table of obsolete and redundant
provisionsTABLE OF OBSOLETE AND REDUNDANT
PROVISIONSunder the Reprints Act 1992 s 39Omitted provisionProvision making
omittedprovision obsolete/redundantdefinitions to be read in contextreference to provisions of law is
inclusiveActs Interpretation Act 1954s
32AActs Interpretation Act 1954s
35D´7Table of
renumbered provisionsTABLE OF RENUMBERED PROVISIONSunder
the Reprints Act 1992 s 43 as required by Mortgages (Secondary
Market) Act1984 s 56PreviousRenumbered as43134145226237
