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Wednesday, 1 August 1906

Senator KEATING (Tasmania) (Honorary Minister) . - It would not be advisable to leave out the words " or before." The object is to enable the Minister to give notice to the mortgagee that he intends to pay off the mortgage at any time. v

Senator Dobson - Surely a man should have time to look about for a re-investment.

Senator KEATING - The honorable and learned senator will notice that, under paragraph b of sub-clause 3, we provide that the amount to which a mortgagee is entitled under this clause shall be the principal secured by the mortgagee, and - the interest due at the date of the notice and six months additional interest.

Having assured the mortgagee that he will get six months' additional interest from the date of notice, provision is made to give him notice that the mortgage will be paid off at or before the expiration of six months.

Senator Best - That is whether the mortgage is due or not.

Senator KEATING - Yes.

Senator Best - That is the full amount to which he would be legally entitled after the expiration of the mortgage.

Senator KEATING - Yes. Senator Dobson must surely see that.

Senator Dobson - Yes. I ask leave to withdraw my amendment.

Amendment, by leave, withdrawn.

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