Document ID: chunk:federal_register_of_legislation:C2004A01717:body:0:p2
Version: federal_register_of_legislation:C2004A01717
Segment Type: other
Provision Reference: 
Character Range: 2465–5083

persons acting judicially shall take judicial notice of the seal of the Corporation affixed to a document on or after 13 December 1976 and shall presume that it was duly affixed.".
7. After section 6 of the Principal Act the following section is inserted:—

Delegation by Secretary.
"6a. (1) The Secretary may, either generally or as otherwise provided by the instrument of delegation, by writing signed by him, delegate to a person any of his powers under section 5b.
"(2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Act, be deemed to have been exercised by the Secretary.
"(3) A delegation under this section does not prevent the exercise of a power by the Secretary.".
8. Section 8 of the Principal Act is repealed and the following section substituted:—

Staff of Corporation.
"8. The staff necessary to assist the Corporation in the administration of this Act shall be persons appointed or employed under the Public Service Act 1922.".

Rates of interest chargeable on purchases or advances.
9. Section 30 of the Principal Act is amended by omitting sub-section (4) and substituting the following sub-section:—
     "(4) Subject to sub-section (5), where—
     (a) a purchaser or borrower has, at any time (whether before or after the commencement of this sub-section), paid to the Corporation the balance of the moneys outstanding under a contract of sale or advance under this Act, being moneys that, at the time of payment, were not due and payable; and
     (b) the Corporation, by virtue of an approval given by the Minister under section 19b or 20a (not being an approval given before 18 September 1974), has entered, or enters, into a further contract of sale or advance with the person who was the purchaser or borrower referred to in paragraph (a),
the rate of interest to be charged to the person in relation to that further contract of sale or advance, in respect of—
     (c) where the amount of advance is greater than the amount of the balance of the moneys referred to in paragraph (a)—that part of the amount of advance that is equal to the amount of that balance; or
     (d) in any other case—the whole of the amount of advance,
is the rate of interest that, at the time when that balance was paid to the Corporation, was payable in respect of that balance, and, in the case referred to in paragraph (c) of this sub-section, the rate of interest to be charged to the person in respect of the remainder of the amount of advance is the prescribed rate.".

Action on instalments being overdue.
10. Section 36 of the Principal Act is amended by inserting in