Australian Capital Territory Electricity Supply Amendment Act 1978 (Cth)

AUSTRALIAN CAPITAL TERRITORY ELECTRICITY SUPPLY AMENDMENT ACT 1978

No. 115 of 1978

An Act to amend the Australian Capital Territory Electricity Supply Act 1962.

BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

1. (1) This Act may be cited as the Australian Capital Territory Electricity Supply Amendment Act 1978.

(2) The Australian Capital Territory Electricity Supply Act 1962 is in this Act referred to as the Principal Act.

Commencement

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Borrowing by the Authority

3. Section 26 of the Principal Act is amended by inserting after sub-section (3) the following sub-sections:

“(3a) Without limiting the generality of sub-section (3), a borrowing by the Authority under that sub-section may be by the issue of securities.

“(3b) The Treasurer may, on behalf of the Commonwealth, guarantee the repayment by the Authority of moneys borrowed under this section otherwise than from the Commonwealth and the payment of interest on amounts so borrowed.

“(3c) Where the Authority borrows moneys under this section by the issue of securities and those securities are securities of a prescribed kind, the repayment by the Authority of the amounts borrowed and the payment of interest on those amounts is, by force of this sub-section, guaranteed by the Commonwealth.”.