On 11 January 1945, John Eversley Shillington (Commissioner of Titles, Titles Office) was appointed Royal Commissioner to inquire into and report upon the following matters:

1) As to personal covenants by mortgagors of land to repay the principal moneys loaned and interest thereon: (a) whether such covenants should be made unlawful (b) if permissible, whether any and if so what limitations should be imposed on the right of the mortgagee to enforce any such covenant (c) whether any distinction should be made between mortgages comprising rural lands, and other mortgages, in relation to personal covenants (d) whether any distinction should be made between existing and future mortgages, in relation to personal covenants (e) if any limitation should be imposed on the right of the mortgagee to enforce the personal covenant, what provision, if any, should be made in the case of any guarantor or guarantors, or any collateral security, or any general lien or other security given by the mortgagor (f) in the event of any limitation on the existing rights of mortgagees, in respect of personal covenants, what effects, if any, are probable or possible in relation to credit facilities of rural or other borrowers; the credit of the State, or its people; or the present structure and operation of finance and financial institutions (g) the rights of the mortgagees in respect of personal covenants (h) the effects of the personal covenant in the past on the borrowers from (i) Government money lending authorities (ii) private creditors.

2) Generally as to justification for or advisability or otherwise of legislation to abolish or limit the practice of personal covenants in mortgages, or restrict the operations of such covenants, or the rights of mortgagees thereunder.

The report of the Royal Commission was completed in August 1945.