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New South Wales act
This Act allows the Wingecarribee council to appoint Moss Vale Services Club Ltd as trustee of a specific parcel of land (the Schedule). If appointed, the Club may mortgage that land and, in defined circumstances (registration, foreclosure, transfer), prior trust limitations in the 1922 conveyance are treated as discharged.
Mechanically, the Club gains the ability to borrow against the property; the Club bears repayment risk, mortgagees may acquire title in prescribed events, and the Registrar‑General must withdraw caveats when statutory registrations or recordings occur.
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Direct links to the current provisions in Moss Vale Services Club Act 1975.
2 Definitions
In this Act:
Club means Moss Vale Services Club Ltd.
Council means the council of the shire of Wingecarribee.
land means the land described in the Schedule.
3 Council may appoint Club as trustee of land
(1) The Council may, under section 6 of the Trustee Act 1925, appoint the Club in its place as trustee for the trust property that is the land.
(2) Subsection (1) has effect:
(a) subject to section 6 (2) (d) of the Trustee Act 1925,
(b) notwithstanding section 6 (4) of that Act, and
(c) notwithstanding anything in any instrument whereby the land became trust property.
4 Power to mortgage and powers of mortgagee
(1) Subsections (2), (3) and (4) do not have effect unless the Club is, under section 3, appointed as trustee in place of the Council.
(2) Conveyance dated 30 March 1922 from Violet Bennett to the Council of the Municipality of Moss Vale, registered number 697 book 1257, shall be construed:
(a) as if the words “and with full powers to manage and control the same and to lease from time to time any such buildings for such purposes as the said Council shall approve and to devote any revenue derived from such leasing to the upkeep repairs and improvements of such buildings and grounds” had been omitted therefrom, and
(b) as if the buildings to which the trusts declared by that conveyance extend included any buildings situated on the land at, or erected on the land after, the commencement of this Act and used for the accommodation of the members of the Club and their guests and for the accommodation of the Moss Vale Sub-branch of the Returned Services League of Australia (New South Wales Branch).
(3) The Club may, notwithstanding the trusts declared by the conveyance referred to in subsection (2), mortgage the land with or without other land of the Club.
(4) If the Club mortgages the land under subsection (3), the land is freed and discharged from the trusts referred to in subsection (3) if:
(a) an instrument that gives effect to the exercise by the mortgagee of any of his powers is registered under the Registration of Deeds Act 1897, or recorded in the Register kept under the Real Property Act 1900,
(b) an order for foreclosure in respect of the land is registered under the Registration of Deeds Act 1897,
(c) a person other than the Club becomes registered as proprietor of the land pursuant to section 101 (2) of the Conveyancing Act 1919, or
(d) the estate and the interest of the Club in the land becomes vested in the mortgagee pursuant to section 62 (2) of the Real Property Act 1900.
5 Caveat against dealings with the land
(1) This section does not have effect unless the land is brought under the provisions of the Real Property Act 1900.
(2) To the extent to which any caveat recorded by the Registrar-General in the Register kept under the Real Property Act 1900 forbids registration of a dealing inconsistent with the trusts referred to in section 4 (3), the caveat:
(a) does not operate to prevent:
(i) the registration of a mortgage given pursuant to section 4 (3),
(ii) the registration of an instrument referred to in section 4 (4) (a),
(iii) the registration of a person as proprietor pursuant to section 101 (2) of the Conveyancing Act 1919, or
(iv) the recording of an order referred to in section 62 (2) of the Real Property Act 1900, and
(b) shall be withdrawn by the Registrar-General upon any registration or recording referred to in paragraph (a) (ii), (iii) or (iv) taking effect.
Schedule
(Section 2)
ALL THAT piece or parcel of land situate at Moss Vale in the Shire of Wingecarribee parish of Bong Bong county of Camden being Lot 1 in Deposited Plan 562554.
Sourced from legislation.nsw.gov.au, CC BY 4.0.
1 Name of Act
This Act may be cited as the Moss Vale Services Club Act 1975.
2 Definitions
In this Act:
Club means Moss Vale Services Club Ltd.
Council means the council of the shire of Wingecarribee.
land means the land described in the Schedule.
3 Council may appoint Club as trustee of land
(1) The Council may, under section 6 of the Trustee Act 1925, appoint the Club in its place as trustee for the trust property that is the land.
(2) Subsection (1) has effect:
(a) subject to section 6 (2) (d) of the Trustee Act 1925,
(b) notwithstanding section 6 (4) of that Act, and
(c) notwithstanding anything in any instrument whereby the land became trust property.
4 Power to mortgage and powers of mortgagee
(1) Subsections (2), (3) and (4) do not have effect unless the Club is, under section 3, appointed as trustee in place of the Council.
(2) Conveyance dated 30 March 1922 from Violet Bennett to the Council of the Municipality of Moss Vale, registered number 697 book 1257, shall be construed:
(a) as if the words “and with full powers to manage and control the same and to lease from time to time any such buildings for such purposes as the said Council shall approve and to devote any revenue derived from such leasing to the upkeep repairs and improvements of such buildings and grounds” had been omitted therefrom, and
(b) as if the buildings to which the trusts declared by that conveyance extend included any buildings situated on the land at, or erected on the land after, the commencement of this Act and used for the accommodation of the members of the Club and their guests and for the accommodation of the Moss Vale Sub-branch of the Returned Services League of Australia (New South Wales Branch).
(3) The Club may, notwithstanding the trusts declared by the conveyance referred to in subsection (2), mortgage the land with or without other land of the Club.
(4) If the Club mortgages the land under subsection (3), the land is freed and discharged from the trusts referred to in subsection (3) if:
(a) an instrument that gives effect to the exercise by the mortgagee of any of his powers is registered under the Registration of Deeds Act 1897, or recorded in the Register kept under the Real Property Act 1900,
(b) an order for foreclosure in respect of the land is registered under the Registration of Deeds Act 1897,
(c) a person other than the Club becomes registered as proprietor of the land pursuant to section 101 (2) of the Conveyancing Act 1919, or
(d) the estate and the interest of the Club in the land becomes vested in the mortgagee pursuant to section 62 (2) of the Real Property Act 1900.
5 Caveat against dealings with the land
(1) This section does not have effect unless the land is brought under the provisions of the Real Property Act 1900.
(2) To the extent to which any caveat recorded by the Registrar-General in the Register kept under the Real Property Act 1900 forbids registration of a dealing inconsistent with the trusts referred to in section 4 (3), the caveat:
(a) does not operate to prevent:
(i) the registration of a mortgage given pursuant to section 4 (3),
(ii) the registration of an instrument referred to in section 4 (4) (a),
(iii) the registration of a person as proprietor pursuant to section 101 (2) of the Conveyancing Act 1919, or
(iv) the recording of an order referred to in section 62 (2) of the Real Property Act 1900, and
(b) shall be withdrawn by the Registrar-General upon any registration or recording referred to in paragraph (a) (ii), (iii) or (iv) taking effect.
Schedule
(Section 2)
ALL THAT piece or parcel of land situate at Moss Vale in the Shire of Wingecarribee parish of Bong Bong county of Camden being Lot 1 in Deposited Plan 562554.