WAR SERVICE HOMES (No. 2).

No. 68 of 1932.

An Act to amend section twenty-nine of the War Service Homes Act 1918–1929 as amended by the War Service Homes Act 1932.

[Assented to 5th December, 1932.]

BE it enacted by the King’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 (No. 2) 1932.

(2.)  The War Service Homes Act 1918-1929, as amended by the War Service Homes Act 1932, is in this Act referred to as the Principal Act.

(3.)  Sub-section (3.) of section one of the War Service Homes Act 1932 is repealed.

(4.)  The Principal Act, as amended by this Act, may be cited as the War Service Homes Act 1918-1932.

Commencement.

2.   This Act shall be deemed to have commenced on the first day of August One thousand nine hundred and thirty-two.

Purchase money or advance—how payable or repayable.

3.   Section twenty-nine of the Principal Act is amended—

(a) by omitting from sub-section (1.) all the words after the words ‘provided that’ (first occurring) and inserting in their stead the words ‘the period over which such instalments are repayable shall not exceed fifty years in the case of the widow or widowed mother of an Australian soldier or forty-five years in other cases.’; and

(b) by adding after sub-section (1.) the following sub-section:—

“(1a.) The Commissioner may, with the consent of the purchaser or borrower, vary the contract entered into, or mortgage executed, by the purchaser or borrower, so as to extend the period of repayment and to reduce the amount of each instalment:

Provided that the period so extended shall not exceed the maximum period prescribed by this section.”.