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Thursday, 22 July 1920

Mr MARKS asked the Prime Minister, upon notice -

1.   Is it a fact that under section 18 of the Moratorium Act the dates for the repayment of amounts of principal of mortgages, &c, are specified, and a schedule to the regulation purports to limit to the end of July the protection afforded, notwithstandingthat the GovernorGeneral may have made no proclamation?

2.   If so, will the Prime Minister, to avoid hardship, consider the question of extending the period for twelve months for certain, so that the payments may be made and properties saved ?

3.   Will he make ah. authentic pronouncement defining the date at which the Act shall cease to operate ?

Sir JOSEPHCOOK (for Mr. Hughes). - The answers to the honorable member's questions are as follow: -

1.   The dates for the repayment of the principal sums secured by mortgages to which the moratorium applies, are fixed by Regulation 13 in the First Schedule to the Moratorium Act 1919. The month of July, 1920, is the last month for making such repayments.

2.   Regulation 14 of that schedule provides a means whereby, in cases of hardship, a further extension of time not exceeding twelve months, can be obtained.

3.   The date upon which the moratorium ceases to operate, as regards mortgages to which the first schedule of the Act applies, is the 31st July, 1920, or such extension of time, not exceeding twelve months, from the date as is secured under Regulation 14 above referred to.

These answers do not apply to mortgages to which the Active Service Moratorium Regulations apply. The continuance of protection in the case of those mortgages is not affected by the Moratorium Act 1919.

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