Mortgagors and Lessees Rehabilitation Act 1936

  • repealed
  • Mortgagors and Lessees Rehabilitation Act 1936: repealed, on 3 June 2017, by section 3(1) of the Statutes Repeal Act 2017 (2017 No 23).

Reprint as at 3 June 2017

Coat of Arms of New Zealand

Mortgagors and Lessees Rehabilitation Act 1936

Public Act
 
1936 No 33
Date of assent
 
1 October 1936
Commencement
 
1 October 1936

Mortgagors and Lessees Rehabilitation Act 1936: repealed, on 3 June 2017, by section 3(1) of the Statutes Repeal Act 2017 (2017 No 23).

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

This Act is administered by the Ministry of Justice.

Contents

Title
1Short Title
2General purposes of Act in relation to farmer applicants, home applicants, and other applicants
3Act divided into Parts
4Interpretation
5Act to bind the Crown
6Mortgages to which this Act applies
7Agreements for sale and purchase of land
8Leases to which this Act applies
9Power to apply this Act to licences and other instruments providing for payment of royalties
10Court of Review
11Constitution of court
12Appointment of Judge of court
13Appointment of other members
14Judge of court to take judicial oath
15Oath to be taken by other members
16Registrars and other officers of court
17Rules of court
18Evidence in proceedings before court
19Quorum of court
20Seal of court
21Court may issue general directions to Adjustment Commissions
22Proceedings before court not to be questioned for want of form or appealed against
23Power to appoint additional members of court
24Power to establish Adjustment Commissions
25Oath to be taken by members of Adjustment Commissions
26Orders of Adjustment Commissions to be filed in court
27Appeals to Court of Review
28Proceedings before Adjustment Commission not to be questioned, except by Court of Review
29Mortgagor, lessee, or guarantor may apply for an adjustment of his liabilities
30Mortgagee or lessor or any guarantor may apply for an adjustment of mortgagor’s or lessee’s liabilities
31Notices for adjustment under Rural Mortgagors Final Adjustment Act 1934–35 deemed to be applications under this Act, and fresh applications may be made where that Act has ceased to apply
32Amendment of applicant’s statement of his assets and liabilities
33Verification of applicant’s statements
34Right to inspect filed statements
35Application for adjustment of liabilities to be referred to an Adjustment Commission
36Adjustment Commission to fix time and place for hearing of application
37Adjustment Commission to adjust liabilities of applicant
38Adjustment Commission to determine whether or not applicant is a farmer applicant or a home applicant, the value of his property, the basic rent of his leasehold property, and whether he is entitled to retain property
39Basic value of farm lands
40Basic rent
41Method of determining whether applicant is entitled to retain farm lands or other property
42Moneys secured on farm lands or other property to be reduced to value of security, and balance to be an adjustable debt
43Variation of terms of repayment and other terms of adjustable securities
44Rent payable under any adjustable lease to be reduced to basic rent, and arrears of rent to be an adjustable debt
45Variation of provisions of adjustable leases
46Adjustment Commission may order sale of any property of applicant in certain cases
47Right of vendor mortgagee to repurchase property at same price, subject to allowances for improvements and depreciation
48Moneys secured on property that is abandoned to be an adjustable debt
49Adjustable debts to be discharged, except so far as the Adjustment Commission provides for their payment in whole or in part
50Power to give priority to moneys advanced in respect of farming operations
51Restriction of rights of vendor under customary hire purchase agreement
52Provision of moneys for increasing productive capacity of farm lands
53Relief of mortgagor, lessee, or guarantor not to relieve any other person
54Adjustment of liability of applicant under guarantee
55Limitation of rights of creditors until 31 January 1937 and thereafter while an application for adjustment is pending
56Power to reopen transactions in certain cases where creditors have exercised their rights
57Court may make orders to protect creditors from acts intended to delay or defeat their claims
58Applicants restrained from disposing of property, or obtaining credit without disclosure, while application pending
59Court may dismiss frivolous or vexatious applications, etc
60Application for adjustment not affected by death of applicant
61Service of notices or documents
62Costs in proceedings before court or Adjustment Commission
63Power to fix solicitors’ fees in respect of proceedings under this Act or National Expenditure Adjustment Act
64Publication in Gazette of lists of applicants for adjustment
65Prohibiting publication of reports of proceedings of court or Adjustment Commission
66Application of fire insurance moneys in restitution of destroyed or damaged property
67Power to apportion mortgages
68Special provisions as to mortgages securing annuities, etc
69Power to vary or cancel assignments or orders given by applicants
70Recovery of possession from tenants of mortgaged or leasehold property
71General jurisdiction of court and Adjustment Commissions
72Court may require execution of instruments to give effect to orders
73Registration of orders under Land Transfer Act, Chattels Transfer Act, and other Acts
74Exemption from stamp duty of orders and certain other instruments [Repealed]
75Enforcement of orders
76Applications for revaluations of rural Crown lands deemed to be applications for adjustment under this Act
77State lending departments and local authorities may agree to adjustments
78Trustees may agree to adjustments
79Voluntary adjustments
80As to contracting out of benefits provided by Act
81Right of mortgagor to repay principal, if interest not reduced
82Restricting sale of land in respect of which adjustments have been made under this Act
83Regulations
84Making permanent the operation of Part 3 of National Expenditure Adjustment Act 1932 (effecting reductions in interest, rent, and other fixed charges)
85Power to transfer functions of High Court or District Court Judge to the Court of Review
86Repeals
87Saving of existing orders for relief under Mortgagors and Tenants Relief Act
88Provisions applicable where notice for adjustment has been given under Rural Mortgagors Final Adjustment Act 1934–35
Reprint notes

An Act to provide for the adjustment of the liabilities of mortgagors and lessees in certain cases, and for matters incidental thereto