Queensland Legislation
Queensland
Property Law (Mortgagor Protection) Amendment Bill
Queensland
Property Law (Mortgagor Protection) Amendment Bill 2008
Contents
Shorttitle 0... eee Commencement........... 0.000 c eee eee eee eee eee
Amendment of s 85 (Duty of mortgagee as to sale price) ...... 4 Actamended ........... 00. c eee cee teens 4Amendment of s 89 (Provisions as to exercise of power of sale). 6
oar won =
Insertion of new pt 21......... 0... eee eee ee
Part 21 Transitional provision for Property Law (Mortgagor Protection) Amendment Act 2008
352 Mortgagor protection ............-..-.00-00 eee 6
A Bill
for
An Act to amend the Property Law Act 1974 for a particular purpose
Clause
Clause
Clause
Clause
Property Law (Mortgagor Protection) Amendment Bill 2008
[s 1]
The Parliament of Queensland enacts—
1 Short title
This Act may be cited as the Property Law (Mortgagor Protection) Amendment Act 2008.
2 Commencement
This Act commences on a day to be fixed by proclamation.
3 Act amended
This Act amends the Property Law Act 1974.
4 Amendment of s 85 (Duty of mortgagee as to sale price)
d)
(2)
(3)
(1A)
Page 4
Section 85, heading, after 'mortgagee'— insert— 'or receiver'.
Section 85(1), 'a mortgagee, in the exercise after the commencement of this Act'—
omit, insert—
'a mortgagee, including as attorney for the mortgagor, or a receiver acting under a power delegated to the receiver by a mortgagee, in the exercise'.
Section 85— insert—
Also, if the mortgage is a prescribed mortgage, the duty imposed by subsection (1) includes that a mortgagee or receiver must, unless the mortgagee or receiver has a reasonable excuse—
(a) adequately advertise the sale; and
(b) _ obtain reliable evidence of the property's value; and
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Property Law (Mortgagor Protection) Amendment Bill 2008
[s 4]
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