CREDIT (RURAL FINANCE) ACT 1996 - SECT 9 9 Exception to s 7--further default during notice period

Queensland Consolidated Acts

9 Exception to s 7--further default during notice period

(1) This section applies if--

(a) a mortgagor defaults under a mortgage; and

(b) the mortgagee gives the mortgagor, and guarantor (if any), a default notice under this part for the default; and

(c) the mortgagor makes a further default of the same type before the due day stated in the default notice for the first default; and

(d) the further default is not remedied by the due day stated in the default notice for the first default.

(2) Section 7 does not apply to the mortgagee in exercising, or purporting to exercise, a right under the mortgage for the further default.