The Act's scope is limited to specified categories of mortgage: Section 4 provides that the Crown is generally not bound, except for specified categories. Similarly, section 5 carves out various categories of mortgage from the Act's application including building society loans, registered friendly society loans, and mortgages declared by the Minister to be excluded.
Guarantors are treated as mortgagors: The broad definition of "mortgagor" in section 2 includes guarantors of mortgage debts, who may not realise they have access to (or need to comply with the requirements of) the Act.
Lessees from mortgagors cannot seek to redeem: Section 2(1A) expressly excludes lessees from mortgagors from the definition of "person entitled to redeem." A lessee of mortgaged land cannot use the Act to seek redemption in their own name.
The Act's Depression-era focus: While the Act remains in force, its factors in section 6(5) reflect Depression-era thinking about economic hardship. Modern courts applying the section 6(5) factors would apply them in a contemporary economic context. Practitioners should not assume historical interpretations automatically apply without checking whether the context has changed the weight of each factor.
Savings from repeal of earlier Acts: The Act's savings provisions in section 3 preserve rights and proceedings under the repealed Moratorium Acts. Any claim or proceeding begun under a pre-1932 moratorium Act is preserved.