Western Australian Current Acts

STAMP ACT 1921 - SECT 91C

91C .         Extent to which mortgage can be enforced

        (1)         A mortgage or mortgage package for which mortgage duty is imposed or a similar duty is chargeable under a corresponding Act is enforceable only to the extent of the amount secured by the mortgage or mortgage package for which duty has been paid or the mortgage or mortgage package is exempt from mortgage duty, under this Act or the corresponding Act.

        (2)         For subsection (1), mortgage duty has been paid on a mortgage or mortgage package affecting property that is partly in and partly outside Western Australia if —

            (a)         duty has been paid on the total advances under the mortgage or mortgage package when the mortgage duty paid is taken with the duty paid under a corresponding Act; and

            (b)         the dutiable proportion of the mortgage or mortgage package is not incorrect by more than 5% when worked out under section 91(3).

        [Section 91C inserted: No. 66 of 2003 s. 79.]