South Australian Consolidated Acts

STOCK MORTGAGES AND WOOL LIENS ACT 1924 - SECT 19

19—Other implied covenants in stock mortgages and agreements for wool liens

        (1)         There shall be implied in every stock mortgage executed before the registration commencement time the powers, covenants, and provisions set out in Schedule 3.

        (2)         There shall be implied in every agreement conferring a preferable lien on wool executed before the registration commencement time the power set out in Schedule 4.

        (3)         Such implied powers, covenants, and provisions shall, subject to subsection (4) hereof, have the same effect as if the same were respectively set out at length in every stock mortgage and agreement conferring a preferable lien on wool.

        (4)         Every power, covenant, and provision by this Act implied in a stock mortgage or an agreement conferring a preferable lien on wool may be negatived or modified by express words in the mortgage or agreement.