New South Wales Consolidated Acts

MORATORIUM ACT 1932 - SECT 42

42 Policies of insurance

(1) Nothing in this Act or in any enactment by this Act repealed shall prevent a mortgagee from claiming, suing for, or receiving the proceeds of any policy of insurance in any case in which the terms or conditions of the policy or of any mortgage provide that such proceeds shall be payable by the insurer to the mortgagee.

(2) Nothing in this Act or in any enactment by this Act repealed, shall be construed to prevent a mortgagee of a debt, trust fund or other chose in action (not being a mortgagee of a mortgage debt) from suing the debtor, trustee or other the person against whom the chose in action is enforceable, to recover any moneys due and payable by such debtor, trustee or other person under or by reason of such debt, trust or other chose in action or from receiving from such debtor, trustee or other person such moneys.