South Australian Current Acts South Australian Current Acts48—Regulation of exercise of power of sale
A mortgagee shall not exercise the power of sale conferred by this Act unless
and until—
(a)
notice requiring payment of the mortgage money has been served on the
mortgagor or one of two or more mortgagors, and default has been made in
payment of the mortgage money, or of part thereof, for one month or any less
time provided by the mortgage after such service; or
(b) some
interest under the mortgage is in arrear and unpaid for one month after
becoming due; or
(c)
there has been a breach of some provision contained in the mortgage deed or in
this Act, and on the part of the mortgagor, or of some person concurring in
making the mortgage, to be observed or performed, other than and besides a
covenant for payment of the mortgage money or interest thereon.