Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020 (Cth)

Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020

made under subsection 51JA(2) of the

Commonwealth Inscribed Stock Act 1911

Compilation No. 1

Compilation date:  7 October 2020

Includes amendments up to:            F2020L01284

About this compilation

This compilation

This is a compilation of the Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020 that shows the text of the law as amended and in force on 7 October 2020 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register ( The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary  1

1............ Name............................................................................................................................. 1

3............ Authority....................................................................................................................... 1

5............ Definitions.................................................................................................................... 1

Part 2—Direction relating to Commonwealth borrowing  2

6............ Direction as to the maximum total face value of stock and securities that may be on issue     2

Endnotes  3

Endnote 1—About the endnotes  3

Endnote 2—Abbreviation key  4

Endnote 3—Legislation history  5

Endnote 4—Amendment history  6

Part 1—Preliminary

1  Name

This instrument is the Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020.

3  Authority

This instrument is made under the Commonwealth Inscribed Stock Act 1911.

5  Definitions

Note:       Expressions have the same meaning in this instrument as in the Commonwealth Inscribed Stock Act 1911 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

In this instrument:

face value has the same meaning as in section 51JA of the Act.

the Act means the Commonwealth Inscribed Stock Act 1911.

Part 2—Direction relating to Commonwealth borrowing

6  Direction as to the maximum total face value of stock and securities that may be on issue

For the purposes of subsection 51JA(2) of the Act, the maximum total face value of stock and securities that may be on issue under the Act and the Loans Securities Act 1919 in relation to borrowings under section 3A of the Act and section 4 of the Loans Redemption and Conversion Act 1921 is $1,200 billion.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history. 

Endnote 2—Abbreviation key

o = order(s)
ad = added or inserted	Ord = Ordinance
am = amended	orig = original
amdt = amendment	par = paragraph(s)/subparagraph(s)
c = clause(s)	/sub‑subparagraph(s)
C[x] = Compilation No. x	pres = present
Ch = Chapter(s)	prev = previous
def = definition(s)	(prev…) = previously
Dict = Dictionary	Pt = Part(s)
disallowed = disallowed by Parliament	r = regulation(s)/rule(s)
Div = Division(s)
exp = expires/expired or ceases/ceased to have	reloc = relocated
effect	renum = renumbered
F = Federal Register of Legislation	rep = repealed
gaz = gazette	rs = repealed and substituted
LA = Legislation Act 2003	s = section(s)/subsection(s)
LIA = Legislative Instruments Act 2003	Sch = Schedule(s)
(md) = misdescribed amendment can be given	Sdiv = Subdivision(s)
effect	SLI = Select Legislative Instrument
(md not incorp) = misdescribed amendment	SR = Statutory Rules
cannot be given effect	Sub‑Ch = Sub‑Chapter(s)
mod = modified/modification	SubPt = Subpart(s)
No. = Number(s)	underlining = whole or part not
commenced or to be commenced

Endnote 3—Legislation history

Name	Registration	Commencement	Application, saving and transitional provisions
Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020	23 Mar 2020 (F2020L00290)	24 Mar 2020 (s 2)
Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Amendment Direction 2020	6 Oct 2020 (F2020L01284)	7 Oct 2020 (s 2)	—

Endnote 4—Amendment history

Provision affected	How affected
s 2........................................	rep LA s 48D
s 4........................................	rep LA s 48C
s 6........................................	am F2020L01284
Schedule 1...........................	rep LA s 48C