Australian Soldiers' Repatriation Regulations (Amendment) (Cth)

STATUTORY RULES.

1948. No..

REGULATION UNDER THE AUSTRALIAN SOLDIERS’ REPATRIATION ACT 1920-1947.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Australian Soldiers’ Repatriation Act 1920-1947.

Dated this twenty-third day of June, 1948.

W. J. McKell

Governor-General.

By His Excellency’s Command,

Minister of State for Repatriation.

 

Amendment of the Australian Soldiers’ Repatriation Regulations. 

Regulation 53 of the Australian Soldiers’ Repatriation Regulations is repealed and the following regulation inserted in its stead :—

Interest on loans.

“53.—(1.) For the purposes of this regulation—

‘loan’ includes—

(a) any loan granted in pursuance of regulation 78 of these Regulations in conation with a professional course of education and training;

(b)the value at the time of purchase of tools of trade, plant and equipment, professional instruments or other articles, of personal equipment supplied on an order granted in pursuance of sub-regulation (2.) of regulation 81 of these Regulations;

(c) any advance by way of loan made under regulation 84 of these Regulations before the repeal of that regulation by Statutory Rules 1946, No. 182; and

(d)any assistance by way of loan granted in pursuance of regulation 181 of these Regulations,

but does not include a loan granted in pursuance of regulation 177 of these Regulations;

‘training loan’ means any loan, made under Part III. of the Re-establishment and Employment Act 1945 to a trainee under the Commonwealth Reconstruction Training Scheme, which has become due for repayment to the Commonwealth.

 

* Notified in the Commonwealth Gazette on , 1948

  Statutory Rules 1943, No. 233, as amended by Statutory Rules 1945, No. 48; 1946, No. 182; 1947, Nos. 72, 106, 149 and 169; and 1948, Nos.

1497.—Price 3d. 10/19.4.1948.

 

“(2.) A person who is, or has been, granted a loan under these Regulations shall be charged such rate of interest (if any) as is prescribed in respect of that loan, or any portion of that loan, by this regulation.

“(3.) For the purpose of ascertaining the rate of interest (if any) payable on a loan, or portion of a loan, the amounts of all loans granted to any one person under the Re-establishment and Employment Act 1945, the Interim Forces Benefits Regulations and these Regulations shall be added together and—

(a) where the aggregate amount of the loans does not exceed Fifty pounds, no interest shall be charged;

(b)where the aggregate amount of the loans exceeds Fifty pounds, but does not exceed Two hundred and fifty pounds, interest at the rate of two per centum per annum shall be charged on the amount by which the aggregate amount exceeds Fifty pounds;

(c) where the aggregate amount of the loans exceeds Two hundred and fifty pounds, but does not include a training loan, or includes a training loan of Two hundred and fifty pounds or less, interest shall be charged at the rate of two per centum per annum on the first Two hundred pounds of the aggregate amount in excess of Fifty pounds and at the rate of three and three-quarters per centum per annum on so much of the aggregate amount as exceeds Two hundred and fifty pounds; or

(d)where the aggregate amount of the loans exceeds Two hundred and fifty pounds and includes a training loan of more than Two hundred and fifty pounds, interest at the rate of two per centum per annum shall be charged on the amount by which the training loan exceeds Fifty pounds, and interest at the rate of three and three-quarters per centum per annum on the amount by which the aggregate amount exceeds the amount of the training loan.”.

 

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.