South Australian Current Acts South Australian Current Acts135A—Mode of payment of encumbrance
(1) All moneys which
by reason of any sale by an encumbrancee or otherwise shall become applicable
to the payment of an encumbrance shall be applied firstly in payment of the
moneys then actually due to the encumbrancee, and if the encumbrance shall not
then be satisfied the surplus shall be paid to the Public Trustee who shall
invest the same upon Government securities or upon loan to the Treasurer and
shall hold such surplus and the investments and income thereof upon trust to
satisfy the accruing payments of the annuity, rent-charge, or other sum of
money secured by the encumbrance and subject thereto for the person entitled
to such moneys after payment of the encumbrance.
(2) This section shall
take effect as though inserted in this Act on the passing thereof.