Western Australian Current Acts Western Australian Current Acts (1) In case a
mortgagee or his transferee shall be absent from Western Australia and there
be no person authorised to give a receipt for the mortgage money at or after
the date appointed for payment thereof it shall be lawful for the Treasurer to
receive such mortgage money with all arrears of interest due thereon in trust
for the mortgagee or other person entitled thereto; and thereupon the interest
upon such mortgage shall cease to run or accrue.
(1A) The Registrar
shall upon production of the receipt of the Treasurer for the amount of the
mortgage money and interest make an entry in the Register discharging the land
from such mortgage stating the time at which such entry was made; and such
entry shall be a valid discharge from such mortgage.
[(1B) deleted]
(1C) The Treasurer
shall from time to time invest all mortgage moneys and interest which shall be
received by him under this section together with all dividends and interest
which shall accrue thereon in Western Australian Government or Commonwealth
securities for the benefit of the persons who shall for the time being be
entitled thereto; but nothing herein contained shall render any Treasurer in
any manner liable for not investing the same respectively.
(1D) The Registrar
shall address to the Treasurer requisitions countersigned by the Commissioner
to pay to such persons the moneys to which they may be entitled hereunder; and
such moneys shall be issued in like manner as moneys are now issued from the
Consolidated Account.
(1E) In subsections
(1) to (1D) —
mortgage money shall include any outstanding
balance of the principal moneys secured.
(2) If it be proved to
the satisfaction of the Commissioner that the whole of the moneys payable
under a mortgage, whether as principal or interest, have been paid and that
the mortgagee or his transferee is dead or absent from Western Australia or
cannot be found and there is no person empowered or authorised to discharge
the mortgage on his behalf the Commissioner may direct the Registrar to make
an entry in the Register discharging the land from such mortgage stating the
time at which such entry was made and such entry shall be a valid discharge
from such mortgage.
[(a), (b) deleted]
[Section 126 amended: No. 6 of 1946 s. 2; No. 17
of 1950 s. 32; No. 6 of 1993 s. 11; No. 81 of 1996 s. 72 and 145(1); No. 6 of
2003 s. 41; No. 77 of 2006 s. 4; No. 19 of 2010 s. 51; No. 21 of 2022 s. 28.]