Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Wednesday, 23 November 1927

Senator REID (Queensland) .- I desire to ask the Minister in charge of the bill what would be the limit of the advance which the savings bank could make under this clause?

Senator Sir WILLIAM' GLASGOW - (Queensland - Minister for Defence) [9.45]. - The reply to the honorable gentleman is to be found in clause 9, paragraph (b), sub-clause 2, which says -

A loan is not made for the purpose of discharging a mortgage unless the conditions of the mortgage, or the conditions of any further loans on the property, are, in the opinion of the authority, unduly disadvantageous to the mortgagor.

Clause agreed to.

Clause 6 (Authorities to which advances may be made).

SenatorNEEDHAM (Western Australia [9.48]. - Will the Minister inform the Senate whether it is the advances which are to be prescribed, as provided for in this clause, or whether it is the " authority." To my mind the clause is not very clear as it stands.

Senator Sir William Glasgow - The advances will be as prescribed.

Clause agreed to.

Clause 7 (Method of making advances).

Suggest corrections