WAR SERVICE HOMES.

No. 2 of 1962.

An Act to reduce by Seven hundred and fifty pounds the Minimum Deposit required from Purchasers, and to increase by that sum the Maximum Advance available to Borrowers, under the War Service Homes Act 1918–1961.

[Assented to 17th March, 1962.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the War Service Homes Act 1962.

(2.) The War Service Homes Act 1918–1961 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the War Service Homes Act 1918–1962.

Commencement.

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Sale of dwelling-houses.

3. Section nineteen of the Principal Act is amended by omitting from sub-section (4.) the words “Two thousand seven hundred and fifty pounds” (wherever occurring) and inserting in their stead the words “Three thousand five hundred pounds”.

Maximum advance.

4. Section twenty-one of the Principal Act is amended by omitting the words “Two thousand seven hundred and fifty pounds” (wherever occurring) and inserting in their stead the words “Three thousand five hundred pounds”.