Parliamentary material from legislation.vic.gov.au and the Parliament of Victoria. Links open the official source in a new tab.
An Act to authorize the Trustees of certain Land permanently reserved from Sale as a Site for the use of the Royal Society of Victoria to borrow upon the Security of the said Land and to demise part of the said Land and to permit the temporary use of certain Buildings on the said Land and for other purposes.
WHEREAS by an Order in Council dated the second day of April One thousand eight hundred and eighty-three the land described in the Schedule hereto was permanently reserved from sale as a site for the use of the Royal Society of Victoria:
AND WHEREAS by a Crown grant entered in the Register Book of the Office of Titles volume 1471 folium 294133 and bearing date the second day of April One thousand eight hundred and eighty-three in order to provide a site for a hall for the use of the Royal Society of Victoria and for other scientific purposes there was granted unto His Honour Sir William Foster Stawell, Robert Lewis John Ellery, Edward John White, and William Charles Kernot all of Melbourne and to their heirs all that piece or parcel of land in the said Crown grant and in the Schedule hereto particularly mentioned and described together with all the rights members privileges and appurtenances whatsoever to the same belonging or in any wise appertaining subject nevertheless to the reservations and exceptions and to the conditions provisions and declarations in the said grant mentioned and among others that the land thereby granted and the buildings for the time being thereon should be at all times thereafter maintained and used as and for a site for a hall for the use of the Royal Society of Victoria and for other scientific purposes and offices and conveniences connected therewith and for no other purposes whatsoever:
AND WHEREAS by such Crown grant provision was made for the appointment of new trustees upon the happening of certain events therein mentioned:
AND WHEREAS the said Sir William Foster Stawell, Robert Lewis John Ellery, Edward John White, and William Charles Kernot are deceased and in accordance with such provision Walter Baldwin Spencer, C.M.G., Pietro Baracchi, and Frank Wisewould all of Melbourne have been appointed trustees of the said land:
AND WHEREAS the said trustees have under the said Crown grant no power to borrow money upon the security of the land so granted or to demise any part of the said land or to permit for purposes other than those specified in the said Crown grant the use of any buildings on the said land:
AND WHEREAS the present trustees of the land desire authority to borrow moneys from the Commissioners of the State Savings Bank of Victoria for the furtherance of the purposes aforesaid upon the security of the said land and the buildings thereon and to demise part of the said land and to permit for purposes other than those specified in the said Crown grant the temporary use of the said buildings or any of them:
AND WHEREAS it is expedient to authorize the said trustees to borrow the said moneys and to demise part of the said land and from time to time to permit such use of the said buildings or any of them:
s. 1
This Act may be cited as the Royal Society Land Act 1915.
Notwithstanding anything in any Act or in the said recited Crown grant the trustees for the time being of the land described in the Schedule hereto are hereby authorized-
to borrow a sum or sums of money not exceeding in the aggregate Three thousand pounds from the Commissioners of the State Savings Bank of Victoria who are hereby empowered to lend such sum or sums for the purpose of erecting suitable buildings for effectuating the purposes for which the said land was granted; and
subject to the approval of the Governor in Council to demise for such period as may be approved as aforesaid any part of the said land on which there are no buildings devoted to the purposes for which the said land was granted on a building improving or other lease at the best rent obtainable for the purpose of obtaining money to be expended in effectuating the purposes for which the said land was granted; and
to permit from time to time and on such terms and conditions as the trustees think fit the temporary use of any buildings the property of the said Society erected on the land the subject of the Crown grant notwithstanding that such use is for purposes other than those specified in the Crown grant.
s. 3
In order to secure the repayment of the moneys so borrowed the trustees may mortgage the said land.
No mortgage or lease or permit pursuant to this Act shall be deemed to enable or authorize the Governor or other officer for the time being administering the Government of Victoria to re-enter upon the said land and to hold possess or enjoy the same pursuant to any provision in the said Crown grant authorizing such entry in the event of alienation by the trustees of any interest in the said land.
No mortgage made pursuant to this Act shall be registered under the Transfer of Land Act 1915 until approved by the Governor in Council, and such approval shall be evidenced by an indorsement signed by the Crown Solicitor to that effect on the mortgage.
Any mortgage made pursuant to this Act shall provide as follows, namely--
that the principal moneys shall not be made repayable within a shorter period than three years from the date of the mortgage;
that the rate of interest shall be the current rate charged by the said Commissioners on advances on residential or shop securities;
that any notice of default to be given under section one hundred and forty-six of the Transfer of Land Act 1915 shall not be served until such default has continued for one month, and that a copy of the notice of default served under the said section on the mortgagors or their transferees shall at the same time be served by the mortgagee or its transferee on the Crown Solicitor; and
that until such default has continued for at least three months after the service of such notice the power to sell conferred by section one hundred and forty-eight of the said Act shall not be exercised by the mortgagee or its transferee.
s. 7
A copy of any notice of intention to make an application to the Commissioner of Titles for an order for foreclosure served by the mortgagee or its transferee under section one hundred and sixty-one of the Transfer of Land Act 1915 on the mortgagors or their transferees shall at the same time be served by the mortgagee or its transferee on the Crown Solicitor.
The fact of such service shall be stated in such application and verified by statutory declaration.
No foreclosure order shall be made unless such copy has been so served.
At any time within one month after a copy of a notice of default or within three months after a copy of notice of intention to make application for a foreclosure order has been served on the Crown Solicitor as provided in this Act the Governor in Council shall have the right to pay to the mortgagee or its transferee the principal and interest and other moneys for the time being due or owing upon any such mortgage and thereupon the mortgagee or its transferee shall discharge transfer or otherwise deal with such mortgage as the Governor in Council directs.
s. 9
If any appropriation not authorized by this Act is made of any moneys paid to or held in trust by the said trustees or any other persons pursuant to the provisions of this Act any such trustees or any such persons who knowingly misappropriate or consent to the misappropriation of such moneys in addition to any criminal proceedings to which they may be liable in respect thereof shall be jointly and severally liable to refund the amount of such appropriation together with interest thereon; and the same may in any court of competent jurisdiction be recovered by a law officer from such trustees or persons or any of them as moneys lent to such trustees or persons and may be sued for by any person appointed in that behalf by a law officer.
Showing the first 12 of 16 provisions. See all provisions