Page images
PDF
EPUB

The Renmark Irrigation Trusts Loan Amendment Act.—1900.

Application of rents.

(9) All rent and other moneys payable under any such lease shall, until the execution of a release as herein before mentioned, or the expiration of twenty-one years from the Trust taking possession, whichever shall first happen, be received by the Trust, and shall be applicable

(a) In defraying the expenses of and incidental to carrying into

effect the provisions in this section contained, and to the execution of such lease, and the collection of the rents, and the expenses of any repairs and improvements to such property which the Trust may consider it necessary to effect :

(6) In payment to the Trust of all arrears of rates and other

payments due in respect of such property, together with interest on all arrears of rates and on the said expenses at the rate of Six Pounds per centum per annum from the time such rates shall have become due respectively, and in payment of all rates and other payments accruing due thereon:

And the residue of any such moneys shall belong to such person or persons as would when the same respectively were received have been entitled to receive the rents and profits of such property if this Act had not been passed, and the Trust shall deal with such residue

in all respects as the Governor shall direct. After twenty-one (10) Unless some person entitled in that behalf perform the conyears property to vest ditions entitling him to demand a release of any property of which in the Trust.

the Trust have taken possession under the foregoing provisions within twenty-one years after such taking possession, such property and all accumulations of rent and other moneys on account thereof shall vest absolutely in the Trust.

Sale.

(11) Any land which may become vested in the Trust under the provisions hereinbefore mentioned may be sold by the Trust at such price and upon such terms as may be determined by the Trust, and the proceeds of any such sale may be used by the Trust in or towards providing for the half-yearly payments to be made pursuant to clause 11 hereof, and subject thereto, in improving or extending the irrigation works, or for any of the purposes to which the rates may be applied.

12

Powers additional to present powers.

) The powers conferred on the Trust by this section shall be exercisable in addition to the powers with regard to the sale and letting of land, and to the collection, recovery, and enforcement of the payment of rates, conferred on the Trust by “ The Renmark Irrigation Trusts Act, 1893.”

Amendment of sections 120, 121, 122, and Ninth Schedule of Act, 1893.

4. In sections 120, 121, and 122, and in the Ninth Schedule of “ The Renmark Irrigation Trusts Act, 1893,” for the words “ one year” shall be substituted the words “two months.”

The Renmark Irrigation Trusts Loan Amendment Act.–1900.

5. All rights, powers, authorities, functions, privileges, and dis- The Trust to have

powers of a District cretions vested in or exercisable by a District Council under and by Council. virtue of “ The District Councils Act, 1887,” or any Act construed or incorporated or to be construed or incorporated therewith, shall be vested in and exercisable by the Trust as fully and effectually as if the Trust were a District Council, and as if the members thereof were members of a District Council, and as if the Secretary thereof were a clerk of a District Council, and as if the seal of the Trust were the seal of a District Council; and any rates collected by the Trust may be used and employed by the Trust in or towards the exercise of the said rights, powers, authorities, functions, privileges, and discretions; and any moneys received by the Trust in or by reason of the exercise of such rights, powers, authorities, functions, privileges, and discretions, or any of them, including any fees paid to or fines recovered by the Trust, shall belong to and be held by the Trust in the same way for the same purposes as rates received by the Trust.

6. Save as may herein expressly appear, nothing in this Act con- Not to affect other

Acts or dealings. tained shall affect or alter or be deemed to affect or alter the provisions of the Chaffey Brothers Act, the Chaffey Brothers' Agreement, or “ The Renmark Irrigation Trusts Act, 1893,” or to give any force or effect to any dealing by George Chaffey or William Benjamin Chaffey, or any person claiming under them, with any lands or interest in lands.comprised in the Chaffey Agreement which is in anywise inconsistent with the said Acts or agreement or either of them, or to release the said George Chaffey or William Benjamin Chaffey or Chaffey Brothers, Limited, or any person or company claiming through or under them, from any liability incurred to Her Majesty's Government or to the Trust.

7. The Treasurer may out of the public revenue advance by way Treasurer may lend. of loan to the Trust the sum of Sixteen Thousand Pounds, to be paid as the works progress.

8. The following sections of this Act shall have no force or effect Sections to have until the Treasurer grants the said loan, nor until a notification that conditional effect. such loan has been so granted shall have been published in the Government Gazette.

9. (1) The said loan shall be expended by the Trust in im- Appropriation of loan. proving the irrigation works.

(2) All such expenditure shall, before the incurring thereof, be authorised in writing by the Engineer-in-Chief, and all such expenditure, and all such works and improvements in connection therewith, shall, subject to the Engineer-in-Chief, be under the supervision and control of an officer appointed by the Governor.

(3) No payment for the purposes of this section shall be made until the same is assented to in writing by the Engineer-in-Chief.

10. (1) The

The Renmark Irrigation Trusts Loan Amendment Act.—1900.

Terms of repayment of loan and security therefor.

10. (1) The said loan, with interest thereon at the rate of four and a half per centum per annum, and also the sum of Three Thousand Pounds (being the amount of the prior loan advanced to the Trust, pursuant to “The Renmark Irrigation Trusts Loan Act, 1896 "), with interest thereon at the like rate, shall be repaid by the Trust by half-yearly payments, such half-yearly payments to be calculated at the rate of Three Pounds Fourteen Shillings and Two Pence per centum of the amount of such loans and interest at such rate, extending over a term of twenty-one year's commencing after the expiration of a period of three years from the coming into operation of this Act, the first of such payments to be made six months after the expiration of the said period of three years.

(2) The amount of the special rate fixed by section 109 of “ The Renmark Irrigation Trusts Act, 1893," is hereby increased to Five Shillings half-yearly.

(3) The said half-yearly payments shall be made to the State Bank, and the State Bank and the Trust shall in respect thereof have such and the same authorities, rights, powers, and remedies, and be subject to such and the same liabilities as are provided by 6 The Renmark Irrigation Trusts Loan Act, 1896,” in respect of the loan thereby authorised.

(4) Section 3 of “ The Renmark Irrigation Trusts Loan Act, 1896," so far as it provides for the repayment of the loan of Three Thousand Pounds therein referred to and the interest thereon, is hereby repealed.

(5) The said loans and each of them, together with the said interest thereon, or so much of the said loans and interest as shall for the time being remain unpaid, shall be a first charge upon all rates from time to time declared or leviable by and on all property for the time being vested in or belonging to the Trust.

Interest limited and 11. (1) Notwithstanding anything expressed or implied in any principal not to be

contract whatever, whether executed, issued, made, or entered into seven years on before or after the commencement of this Act, it shall not be lawful condition of punctual payment of reduced for any person to charge, recover, or enforce payment, or be paid or interest.

allowed in respect of the period of twelve years commencing on the day of publication of the notification, as provided in section 8 hereof, or any portion of such period, any greater sum for or any higher rate of interest than Five Pounds per centum per annum for or in respect of any principal moneys secured on any land, or any estate, or interest in land situate within the Renmark Irrigation District, No. 1, as such district is constituted pursuant to “ The Renmark Irriga. tion Trusts Act, 1893,” if such interest at the rate aforesaid is after the day of such publication as aforesaid punctually paid from time to time on the first days of July and January of each year, or within one month after such respective dates, and if such interest at the rate aforesaid be so paid it shall be deemed to be paid and received in lieu of and in full satisfaction and discharge of any higher rate of interest provided for in or payable under the contract, and in

such

The Renmark Irrigation Trusts Loan Amendment Act.—1900.

such case, if the terms and conditions of such contract other than those which relate to the payment of such principal moneys and interest are duly performed, and if the mortgagors shall duly pay the principal moneys in ten equal half-yearly sums, commencing immediately after the expiry of seven years from the day of such publication as aforesaid, it shall not be lawful for any such person for or in respect of the period for which such interest at the rate aforesaid shall be so paid to ask for or receive, recover, or enforce payment of or be paid or allowed the whole or any part of any principal moneys secured as aforesaid, except such half-yearly payments on account of principal moneys or to enforce any of the powers expressed or implied in or by virtue of any such contract or “ The Real Property Act, 1886,” and any default in payment of such interest so far as it exceeds the said rate of Five Pounds per centum per annum shall not be deemed a default within the meaning of - The Real Property Act, 1886”: Provided, however, that if such interest at the rate aforesaid or such half-yearly payments on account of principal moneys be not punctually paid from time to time within the said period of one month, or if such other terms and conditions are not fully performed, it shall be lawful for such person to enforce for and in respect of the period in respect of which such default has been made and for and in respect of any time subsequent to such default all the covenants and powers expressed or implied in or by virtue of any such contract or " The Real Property Act, 1886,” which he would otherwise have been entitled to enforce if this Act had not passed.

(2) Any mortgagor who has heretofore made or entered into, or Election by who shall hereafter, during a period of twelve months from the mortgagor. day of such publication as aforesaid, make or enter into, any written or oral contract, undertaking, or arrangement (hereinafter called “the special arrangement”) with any mortgage holder for obtaining redemption of the mortgaged premises upon payment of an amount less than the principal moneys or at a date prior to the time limited in clause 11 (1) hereof for the final payment of the principal moneys may, at any time within a period of twelve months from the coming into operation of this Act, at his option, elect, by notice in writing delivered or posted to the mortgage holder within such twelve months, either to be and remain bound by the terms of such special arrangement or to become subject to the provisions of clause 11 (1) hereof; and if he shall elect to be and remain bound by the terms of such special arrangement, and shall duly perform and fulfil all the terms and conditions thereof, he and the mortgaged land shall be wholly freed and discharged from all obligations to and claims and demands of the mortgage holder and the trustee and the company in respect of the contract and the special arrangement.

(3) Where any person holds in addition to any such contract any other contracts. other contract relating to any real or personal estate whatever for or in respect to any such principal moneys, or any part thereof, he shall also in respect of such other contract be subject to all the conditions and restrictions herein before mentioned.

(4) The

The Renmark Irrigation Trusts Loan Amendment Act.–1900.

Registration.

Mortgagors to pay rates punctually and to cultivate.

(4) The Registrar-General shall not be bound to register any dealing by any person under or in pursuance or in respect of any such contract unless and until he is satisfied that such person is under the provisions of this Act entitled to enforce any such contract; and such registrar may, if he think fit, accept the statutory declaration of such person, or any other person whomsoever, as sufficient proof of all or any of the matters aforesaid, and neither the Registrar-General nor the Assurance Fund shall be in any manner liable in respect of anything done or omitted to be done in pursuance of this Act; but nothing in this sub-section contained shall in any manner affect the rights or remedies of any person whomsoever against any person enforcing any such contract.

(5) During the said period of twelve years the mortgagor of any land situate within the Renmark Irrigation District No. 1 on which any principal moneys are secured -) Shall be responsible for the punctual payment of all rates

declared by the Trust in respect of such land, and of all District Council or other rates payable in respect thereof, and in the event of the mortgagee paying the said rates or any part of them he may forthwith recover the amount from the mortgagor in any Court of competent jurisdiction or may treat the amount of such rates so paid as an increase

of the debt due to him on such mortgage; and (6) Shall, if such land be planted or prepared for fruit-growing,

keep the same and all fruit trees thereon as well cultivated and prepared as the same were on the day of the coming into operation of this Act. When any question arises between a mortgagor and a mortgagee as to the proper compliance with this provision the Trust shall, at the request of either party, finally decide such question and make such order in the matter as it shall deem just, and in the event of any breach of this provision continuing for one month after notice in writing to the mortgagor of such breach the mortgagee, at the expiration of one month's notice to the mortgagor of such breach, shall be entitled to exercise his powers as if the mortgagor had failed to observe the covenants and conditions of the mortgage and as if this

Act had not passed. (6) Notwithstanding anything in this section contained, it shall be lawful to make any contract whereby the debt due under any mortgage is discharged.

12. No person limited by the last preceding section to charge, receive, recover, or enforce payment of, or be paid or allowed Five Pounds per centum per annum interest shall be entitled to charge, receive, recover, or enforce payment of, or be paid or allowed more than Five Pounds per centum per annum interest against any company or person in respect of any money owing to such first-mentioned person by the said Chaffey Brothers, Limited, and secured by a mortgage deposit or transfer of a charge or lien upon any such contract.

13. Every

Mortgage may be discharged.

No power to charge more than certain rato of interest.

« EelmineJätka »