Moratorium Act 1932

In this Part, unless the context or subject-matter otherwise indicates or requires—

Moratorium Act means the Moratorium Act 1930, as amended by subsequent Acts.

Mortgagor does not include a person who has guaranteed the payment of money notwithstanding that the payment of such money or the performance of such guarantee is secured by a mortgage of land.

Principal moneys secured by a mortgage of land include moneys paid by a puisne to a prior mortgagee for interest on his mortgage or to redeem or procure a transfer of such mortgage but do not include moneys paid or expended by a mortgagee in payment of rates, taxes, or insurance premiums, or for the protection, preservation, or otherwise for the benefit of the mortgaged property, or moneys due by a mortgagor to a mortgagee for goods supplied or for services rendered, notwithstanding that under the provisions of the mortgage or otherwise the mortgagee may or does add the moneys so paid, expended, or due to the principal sum secured by the mortgage.