This Act may be cited as the Mortgagors and Tenants Further Relief Act, 1932, and shall be read together with and deemed part of the Mortgagors Relief Act, 1931 (hereinafter referred to as the principal Act).

The application of the principal Act is hereby extended so that it shall hereafter apply to mortgages of either of the following classes, namely:—

If any question arises under this section as to whether any mortgage is in replacement or in substantial replacement of another mortgage it shall be determined as a matter of fact by the Court. For the purposes of this section a mortgage may be held by the Court to be in substantial replacement of a former mortgage notwithstanding any variation of the amount secured, or of the rate of interest, or of the property over which security is given, or of the parties, if the Court is satisfied that the new mortgage is intended to secure (whether exclusively or not) the whole or a part of the original mortgage debt.

Section three of the principal Act shall be read subject to the foregoing provisions of this section.

Section thirteen of the Mortgagors and Tenants Relief Act, 1932, is hereby consequentially repealed.

For the purposes of the principal Act a person shall be deemed to have guaranteed the performance by a mortgagor of a covenant, condition, or agreement expressed or implied in a mortgage if he has guaranteed the performance by the mortgagor of any obligation which is the same or is substantially the same as an obligation expressed or implied in the mortgage, notwithstanding that the instrument of guarantee may have been executed before the execution of the mortgage, and whether in contemplation thereof or not, or notwithstanding that, whether the guarantee was executed before or after the execution of the mortgage, the existence of the mortgage or the terms thereof, or the proposal that a mortgage be executed, may not have been adverted to in the guarantee.

Any Order in Council heretofore made or that may hereafter be made under the authority of paragraph (c) of section three of the principal Act, exempting from the operation of that Act any mortgages or any class or classes of mortgages, may be at any time in like manner varied or revoked.

Section four of the principal Act is hereby amended by inserting, after paragraph (c) of subsection one, as amended by section five of the Mortgagors Relief Amendment Act, 1931, the following words: “or (d) Where the mortgagor is a company registered under the Companies Act, 1908, to file a petition under section one hundred and seventy-nine of that Act that the company be wound up by the Court”.

Section five of the principal Act is hereby amended by inserting, after the words “to file a bankruptcy petition” in subsection three, the words “or a petition for the winding-up of a company”.

Section eight of the principal Act is hereby amended by omitting from subsection one the words “twelve months after the date of the mortgagor’s application for relief”, and substituting the words “two years after the date of the order of the Court”.

Where, in respect of any application by a mortgagor for relief under the principal Act, the principal moneys remaining due and unpaid under the mortgage exceed two thousand pounds the parties may agree in writing that a Magistrate or any specified Magistrate shall have jurisdiction to hear and determine the application, and in such case any Magistrate or the Magistrate so specified, as the case may be, shall have the same jurisdiction in respect of such application as if the principal moneys did not exceed two thousand pounds, and the provisions of section fourteen of the principal Act shall thereupon apply in respect of such application accordingly in the same manner as they apply with respect to applications within that section.

In addition to any powers expressly conferred on it by the principal Act, the Court, on any application for relief made by a mortgagor in respect of any lands which are used mainly or substantially for agricultural or pastoral or other farming purposes, may join as party to the proceedings any person who, by virtue of any mortgage, assignment, or other instrument, is entitled to receive delivery of the whole or any portion of the stock for the time being depastured on such lands, or of the produce of such lands or stock, or of the proceeds of the sale thereof.

In any proceedings to which this section relates the Court shall consider any representations that may be made to the effect that any person entitled as aforesaid in respect of the stock and produce has, by virtue of any such mortgage, assignment, or other instrument as aforesaid, power to exercise an unfair advantage over the mortgagor or mortgagee of the land or other party to the proceedings and has in fact exercised such an unfair advantage.

When any person is bound as a party to any proceedings under this section before the reference of the application for relief to an Adjustment Commission, the Court shall direct the Commission to make special inquiries and to report whether or not, in its opinion, any power or right conferred by any such mortgage, assignment, or other instrument has been exercised in a harsh or unconscionable manner to the disadvantage of the mortgagor or mortgagee of the land, or other party to the proceedings.

Section six of the Mortgagors and Tenants Relief Act, 1932, shall apply with respect to all leases, as therein defined, executed before the date of the passing of that Act.

The said section is hereby consequentially amended by omitting from subsection one thereof the words “Nothing in this section shall apply with respect to leases executed after the passing of the principal Act”.

Section six of the Mortgagors and Tenants Relief Act, 1932, is hereby amended by adding to subsection seven thereof the following proviso:—

The Governor-General may by Order in Council extend the provisions of section six of the Mortgagors and Tenants Relief Act, 1932, to apply to licenses or other instruments for the cutting and removal of timber or flax, or for the extraction of coal, as if such licenses or instruments were leases and as if the royalties or other payments reserved thereunder were rent; and may further extend the said provisions to apply to any way-leaves or other easements granted in relation to the rights conferred by any such license or instrument as aforesaid and to the payments reserved thereunder.

Any Order in Council under this section may relate to any specified license or instrument, or to any specified class or classes of licenses or instruments, and may further relate to any assignment or other disposition of the rights or of any of the rights conferred by any such instrument.

Notwithstanding anything to the contrary in subsection seven of section six of the Mortgagors and Tenants Relief Act, 1932, or in section ten of that Act, applications for relief from the conditions of any license or other instrument to which this section relates may be made only to the Supreme Court, and it shall not be necessary for the Court to refer any such application to an Adjustment Commission.

For the purposes of section six of the Mortgagors and Tenants Relief Act, 1932, the term “lessee” is hereby extended to include a person who has guaranteed the performance by a lessee of any covenant, condition, or agreement expressed or implied in the lease, whether such guarantee is expressed in the lease or in any other instrument.