New South Wales Consolidated Regulations

LEGAL PROFESSION REGULATION 2005 - REG 147

147 Definitions

(1) In this Part:
"borrower" has the same meaning as it has in Part 3.5 of the Act.
"contributor" has the same meaning as it has in Part 3.5 of the Act.
"contributory mortgage" has the same meaning as it has in Part 3.5 of the Act.
"lender" has the same meaning as it has in Part 3.5 of the Act.
"mortgage" has the meaning given by section 4 of the Act.
"mortgagee" includes anyone who takes a mortgage or proposes to take a mortgage to secure money lent to a borrower.
"mortgagee solicitor" means a solicitor to whom this Part applies pursuant to clause 148.
"mortgagee solicitor’s nominee company" means a corporation of which each member and each director is a mortgagee solicitor, a partner of a mortgagee solicitor or a person approved by the Law Society Council.
"nominee" means a person who holds a mortgage, as mortgagee, as a trustee for or on behalf of one or more persons.
"registered valuer" has the same meaning as it has in the Valuers Act 2003 .
"regulated mortgage" has the same meaning as it has in Part 3.5 of the Act.
"responsible entity" has the same meaning as it has in Part 3.5 of the Act.
"run-out mortgage" has the same meaning as it has in Part 3.5 of the Act.
"State regulated mortgage" has the same meaning as it has in Part 3.5 of the Act.
"summary of mortgage" means the summary of mortgage required to be prepared and issued under clause 155.
"valuation" means a valuation of a kind required to be obtained under clause 158.

(2) For the purposes of this Part, two or more persons who are lenders on a joint account are to be regarded as one person.