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The Renmark Irrigation Trusts Loan Amendment Act.—1900.
13. Every contract, covenant, agreement, or undertaking made Contracts void if or entered into between or by any person or persons whomsoever, re either before or after the commencement of this Act, which is contrary or repugnant to the true effect, meaning, and intent of this Act, or is made with intent to avoid or evade the same, shall, to the extent to which the same is so contrary or repugnant or is intended to avoid or evade this Act, be absolutely null and void and of no effect at law or in equity.
14. (1) The agreement made between the Treasurer of the said Agreement ratified. province on behalf of Her Majesty's Government of the Province of South Australia and the other persons and corporations therein mentioned (copy whereof appears in the First Schedule hereto), and the execution thereof by the said Treasurer for and on behalf of Her Majesty's Government aforesaid, are hereby sanctioned and confirmed.
(2) When there is any conflict or variance between the provisions of this Act and those contained in the said agreement, the provisions of this Act shall prevail.
15. Notwithstanding anything herein before contained, clauses 11 State Bank mortgages to 14 (both inclusive) of this Act shall not extend to or affect any mortgage heretofore given, or which may hereafter be given, to the State Bank by any mortgagor.
16. The consent of the ratepayers shall not be required to a Consent of ratepapers special rate declared for the purposes of repaying moneys to the not required to special Treasurer under this Act.
In the name and on behalf of Her Majesty, I hereby assent to this Bill.
The Renmark Irrigation Trusts Loan Amendment Act.--1900.
THE FIRST SCHEDULE. An Agreement made this
one thousand nine hundred between the persons firms and corporations whose names appear in the first column and whose signatures appear in the third column of the first schedule hereto (who with their executors administrators successors and assigns and transferees are hereinafter termed “the mortgage-holders ") of the first part the Trustees Executors and Agency Company Limited a Company registered and incorporated under the law of the colony of Victoria and having its registered office at number 412 Collins Street Melbourne in the said colony (hereinafter termed with its assigns “the trustee") of the second part Chaffey Brothers Limited a Company incorporated in the said colony and John Francis McCarron and George Adam Kay both of Melbourne in the said colony accountants of the liquidators of the said Chaffey Brothers Limited in the said colony and Alfred Dawkins of Adelaide in the province of South Australia the official liquidator of the said Chaffey Brothers Limited in the said province (which said last-named Company and liquidators and official liquidator are all with the successors in the office of liquidator and official liquidator respectively included in the term “the ('ompany”) of the third part and the Honorable Frederick William Holder of Adelaide in the said province Treasurer of the said province (entering into these presents for and on behalf of Her Majesty's Government of the said province and hereinafter with his successors in the said office termed “the Treasurer'') of the fourth part Whereas the mortgage-holders are the registered proprietors under an Act of the Legislature of the said province intituled “The Real Property Act 1886" of the mortgages appearing in the second column of the said first schedule opposite their respective names And whereas the trustee is the trustee for the holders of the debentures issued by the said Chaffey Brothers Limited pursuant to a certain debenture trust deed dated the twenty-third day of September one thousand eight hundred and ninety-one and made between the said Chaffey Brothers Limited of the one part and the said trustee of the other part Now it is hereby mutually agreed by and between the parties hereto subject to the provisions hereinafter contained and this agreement witnesseth as
follows:1. In the construction of these presents unless the contrary be expressed or is inferred from the context the expression “principal money” in relation to any mortgage means the amount for which the mortgagor would on the first day of January one thousand nine hundred have been entitled to redeem the property comprised in the mortgage and as if he were then fully entitled to the benefit of all the provisions for rebate of interest on payment in advance contained in the contract the expression “mortgage-holders” and “mortgage-holder" includes the parties hereto of the first part and any legal or equitable mortgagee sub-mortgagee debenture-holder transferee or assignee or any mortgage or sub-mortgage or any person or persons firm or company whosoever claiming directly or indirectly through under or in respect of any contract or directly or indirectly through or under any mortgagee submortgagee debenture-holder transferee or assignee of a mortgagee or sub-mortgagee whether by act of the parties or by operation or process of law or otherwise howsoever the word “contract” includes deed transfer defeasance instrument mortgage debenture contract or agreement howsoever executed issued made or entered into and whether under seal or by parol the expression “the Chaffey Act” shall mean an Act of the Legislature of the Province of South Australia intituled “the Chaffey Brothers Irrigation Works Act 1887" “ The Government” shall mean Her Majesty's Government of the Province of South Australia
2. (1.) Notwithstanding anything expressed or implied in any contract whatever whether executed issued made or entered into before or after the date hereof the mortgage-holders shall not nor shall any or either of them nor shall the trustee or the the Company be entitled to charge receive recover or enforce payment of or be paid
The Renmark Irrigation Trusts Loan Amendment Act.—1900.
or allowed in respect of the period of twelve years commencing on the first day of January one thousand nine hundred 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 money secured on any land or estate or interest in land situate within “The Renmark Irrigation District No. 1” as such district is constituted pursuant to an Act of the Parliament of the said province intituled “ The Renmark Irrigation Trusts Act 1893” and hereinafter termed “ The Trust Act” if such interest at the rate aforesaid is after the said first day of January one thousand nine hundred punctually paid from time to time on the first days of July and January in each year or within one calendar month of such respective dates and if such interest at the rate aforesaid is 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 case if the terms and conditions of such contract other than those which relate to the payment of such principal money and interest are duly performed and if the mortgagors shall duly pay the principal moneys in ten equal half-yearly sums commencing on the first day of January one thousand nine hundred and seven neither any mortgage-holder nor the trustee nor the Company shall (except as hereinafter provided) for or in respect of the period for which such interest at the rate aforesaid shall be so paid be entitled to ask for or receive recover or enforce payment of or be paid or allowed the whole or any part of any principal money secured as aforesaid (except such half-yearly payments on account of principal) or to enforce any of the powers expressed or implied in or by virtue of any such contract or the said " 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 said “ The Real Property Act 1886” Provided however that if such interest at the rate aforesaid or such half-yearly payments on account of principal be not punctually paid from time to time within the said period of one month or if such other terms and conditions are not duly 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 said “ The Real Property Act 1886” which he would otherwise have been entitled to enforce if these presents had not been entered into and notwithstanding anything to the contrary expressed or implied by any such contract or the said “ The Real Property Act 1886” the principal moneys secured by such contract shall be payable and paid by the persons therein liable in ten equal half-yearly instalments the first of such instalments to become due and be paid on the first day of July one thousand nine hundred and seven with interest at the rate aforesaid on so much of the principal moneys as may be due and shall with interest as aforesaid be received in full satisfaction of all moneys payable under such contract Provided always that any mortgagor may pay off the whole of the principal moneys secured by his mortgage at any time after the said first day of January one thousand nine hundred with interest as aforesaid up to the day of such payment off and may thereupon obtain a release and discharge of the mortgaged premises free of all claims and demands from the parties hereto or any of them including the trustee and the Company
(11.) If any mortgagor has heretofore made or entered into or shall hereafter during a period of twelve calendar months from the coming into operation of the Act referred to in clause 6 hereof make or enter into 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 money or at a date prior to the time limited in sub-clause (1.) of this clause for the final payment of the principal moneys such mortgagor may at any time within a period of twelve calendar months from the coming into operation of the Act referred to in clause 8 hereof at his option elect by notice in writing sent to the mortgage-holder either to be and remain bound by the terms of such special arrangement or to become subject to the provisions of sub-clause (1 ) of this clause 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 said special arrangement
3. Where any person holds in addition to any such contract any other contract relating to any real or personal estate whatever for or in respect to any such principal money or any part thereof he shall also in respect of such other contract be subject to all the conditions and restrictions herein before mentioned.
The Renmark Irrigation Trusts Loan Amendment Act.—1900.
4. No person limited by clause 2 hereof 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 Fire 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.
5. Notwithstanding anything to the contrary herein contained or hereby implied neither the Government nor the Treasurer shall be in anywise liable or responsible for any default on the part of the mortgage-holders or of the mortgagors or any or either of them in the fulfilment of any contract covenant or condition whether expressed or implied on their part to be done observed or performed under or in relation to the said mortgagors or these presents or otherwise howsoever.
6. These presents shall be and remain binding on such of the mortgage-holders as shall or may execute the same notwithstanding that the same may not be executed or expressedly or impliedly assented to by all the mortgage-holders.
7. In any action or proceeding in any Court of Law (whether within or without the said Province) against any mortgagor or other person liable under or in respect of the said mortgages such mortgagor or other person shall be entitled to plead this agreement and give the same in evidence notwithstanding that he may not be a party hereto and he shall be entitled to enter a caveat under “ The Real Property Act 1886" in respect of the matters herein contained.
8. This agreement is conditional on the Legislatures of the said Province passing and on the coming into operation within twelve calendar months from the date hereof of an Act inter alia authorising a loan of Sixteen Thousand Pounds to the Trust on and subject to such conditions and restrictions and provisions as to interest security and otherwise as to the said Legislature shall seem fit and including provisions similar ( mutatis mutandis) to those contained in section 8 of the Victorian (Mildura) Act No. 1498.
9. It is hereby expressly agreed and declared that this agreement shall only be binding on the trustee if and when the execution hereof by the trustee shall be lawfully confirmed by the holders of the debentures herein before mentioned. As witness the hands of the parties the day and year first above written.
Adelaide: By authority, C. E. BRISTOW, Government Printer, North Terrace.
[Assented to, October 31st, 1900.]
the Parliament of South Australia, as follows:
1. This Act may be cited as the “ Taxation Acts Amendment Short title and incor. Act, 1900,” and shall be incorporated with the “ Taxation Act, poration 1884," and the Acts amending the same.
2. If the amount of purchase-money fixed by any lease for any If purchase-money
sinirinn Londs reduced, land tax land shall have been reduced under section 8 of “ The Crown Lands Amendment Act, 1898," the assessment of such land for land tax, reduced. additional land tax, and absentee land tax, made under section 19 of the “ Taxation Act Amendment Act, 1894,” or any other power thereunto enabling, shall be reduced to the amount of purchasemoney as reduced, and the assessment so reduced shall take effect from the thirtieth day of June, one thousand eight hundred and ninety-four. The Surveyor-General shall give notice of any such Notice to Commisreduction of purchase-money to the Commissioner of Taxes, who shall thereupon make the necessary alteration of the assessment. Nothing herein contained shall prevent such assessment being altered by the Commissioner in accordance with the “ Taxation Act, 1884," nor shall prevent the Commissioner from making a new assessment if any alteration of values of the land has taken place.
3. If the rent fixed by any perpetual lease for any land shall If rent of perpetual have been reduced under section 8 of the Crown Lands Amendment to
hondmont lease reduced, land
en tax assessment to be Act of 1898, the assessment of such land for land tax, additional reduced. 734