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Wednesday, 4 December 1935

Senator HARDY (New South Wales) . - Under clause 3, sub-section 2 of proposed new section 29aa provides that no reduction of the amount of any instalment shall relieve any widow, widowed mother or wife from liability to pay the full amount of the purchase money or repay the full amount of the advance, as the case may be, together with interest. I had intended to discuss the position of widows under that clause but missed my opportunity and raise it on this clause. Section 49 of the act allows the Commissioner to compound with the purchaser. If the purchaser of a war service home becomes so hopelessly in arrears that, having regard to the decline of the value of. land and buildings, which must have happened if the home had been built in 1922 at the height of the building boom, his equity in the property has practically disappeared, and he may secure a rcassessment of his liability for the purpose of obtaining relief. Will that provision be applied under this bill? It is only reason able that the Minister should have this power. I have been informed of innumerable cases in which the arrears have increased so tremendously that a re-assessment of the amount owing has become necessary.

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