Government Guarantees (Amendment) Act 1948 (NSW)

An Act to amend the Government Guarantees Act, 1934-1943, in certain respects; to validate certain matters; and for purposes connected therewith. [Assented to, 21st May, 1948.] BE

GOVERNMENT GUARANTEES (AMENDMENT)

ACT.

Act No. 17, 1948.

lative Council and Legislative Assembly of New South BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis­

Wales in Parliament assembled, and by the authority of the same, as follows :—

1. (1) This Act may be cited as the "Government

Guarantees (Amendment) Act, 1948."

(2) The Government Guarantees Act, 1934, as amended by subsequent Acts and by this Act, may be cited as the Government Guarantees Act, 1934-1948.

2. (1) The Government Guarantees Act, 1934-1943,

is amended—

(a) by inserting next after subsection two of sec­ tion three the following new subsection:—

(2A) It shall be lawful for the Colonial Trea­ surer, with the approval of the Governor, to execute a guarantee in favour of the Govern­ ment Insurance Office of New South Wales for the repayment of any advance made or to be made by the Government Insurance Office of New South Wales to any building society with­ in the meaning of the Co-operation Acts, 1923- 1947:

Provided that any such guarantee shall not be executed except upon the recommendation of the Co-operative Building Advisory Com­ mittee constituted under the Co-operation Acts, 1923-1947.

(b)	by inserting in section four immediately before
the word " b a n k " where firstly, secondly,

thirdly, fifthly, sixthly and seventhly occurring, the words "Government Insurance Office of New South Wales."

(2) The amendments made by subsection one of this section shall be deemed to have commenced upon the first day of February, one thousand nine hundred and forty-eight.

PARLIAMENTARY