Audit
No. 126 of 1965
An
Act to amend the Audit Act 1901–1964
in relation to Decimal Currency.
[Assented to 18 December, 1965]
BE it enacted by the Queen’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of
Australia, as follows:—
Short
title and citation.
1.—(1.) This Act may be cited as the Audit Act 1965.
(2.) The Audit
Act 1901–1964, as amended by this Act, may be cited as the Audit Act 1901–1965.
Commencement.
2.This
Act shall come into operation on the fourteenth day of February, One thousand
nine hundred and sixty-six.
Yearly
statement for audit.
3. Section
50 of the Audit Act 1901–1964 is
amended by omitting from sub-section (2.) the word “pound” and inserting in its
stead the word “dollar”.
Coin
to be deemed metal until issued.
4.After
section 50 of the Audit Act 1901–1964
the following section is inserted:—
“50a. For
the purposes of the statements and accounts of the Treasurer under this Act,
until a coin made in pursuance of the Coinage
Act 1909, or in pursuance of that Act as amended, or in pursuance of the Currency Act 1965, is issued, the value
of the coin shall be taken to be the value of the metal of which the coin is
made.”.
Investment
of moneys standing to credit of Trust Fund.
5. Section
62b of the Audit Act 1901–1964
is amended by omitting sub-section (1.) and inserting in its stead the
following sub-section:—
“(1.) Moneys standing to the credit of the Trust
Fund may be invested by the Treasurer—
(a)in any securities of, or guaranteed by,
the Government of the Commonwealth or of a State;
(b) on deposit in a bank; or
(c