DUTIES ACT 2001 - SECT 592 Mortgage packages
DUTIES ACT 2001 - SECT 592
Mortgage packages592 Mortgage packages
(1) Subsection (2) applies if—(a) a mortgage package consists of 2 or more security instruments signed before 1 July 2008; and(b) the commissioner is satisfied that a mortgage signed on or after 1 July 2008 was intended to be part of the package.
(2) Mortgage duty must be assessed on the mortgage package—(a) under previous chapter 5; and(b) as if the instruments comprising the package were 1 mortgage first signed on the day the last of the instruments signed before 1 July 2008 was signed.