Government Loan Act of 1911 (2 Geo v No. 23) (Qld)

5194 LAND, CROWN.-LOANS. Government Loan Act. 2 GEO. V. No. 23, (b) For the reason that the nature and value of the improvements thereon render this the most advantageous method of sale; or (v.) Of land in respect of which improvements have been effected out of moneys to the credit of the Public Estate Improvement Fund to the extent of the moneys so expended; or (vi.). Of a public reserve or land held upon public trusts, which has been surrendered to the Crown and so sold upon a condition or engage- ment that the proceeds of sale shall be applied wholly or in part in the improvement or pur- chase of other public reserves or land held upon public trusts or for any other purpose of public advantage. LAND SURVEYORS. See SURVEYORS. 'LEASES TO ALIENS RESTRICTION. See REAL PROPERTY. LOANS. Government Loan Act C!i 1911 ... Treasury Bill" Act of 1911 ... 2 Qeo. V. No, 23 2 Qeo, V. No. ~ 2NGoe.o2. 3V. . An Act to Authorise the Raising of a Loan for the THE Retirement of the Loan raised under "The GOVERNMENT LOAN ACT OF Government Loan Act of 1872" and for other' 1911. purposes. Preamble. [ASSENTED TO 20TH DECEMBER, 1911.J W HEREAS it is expedient to authorise the raising by way of loan for the retirement of the loan raised under "The Govern;IIent Loan Act of 187~ " * of certain sums of money, amounting in all to One million four hundred and sixty-six thousand five hundred pounds: Be it therefore enacted by the. King's Most Excellent Majesty, by and with the advice and consent of the «< 36 Vie. No, 24, sup.ra, page 1812,

LOANS. 5195 1911. Government Loan Act. Legislative Council and Legislative Assembly of Queens- land in Parliament assembled, and by the authority of the same, as follows :- 1. This Act may be cited as "The Government Loan Short title. Act of 1911." , 2. It shall be lawful for the Governor in Council to Power to raise by way . . of loan for the Public Service of the State fraoirsece m r o ta ~ m lCy such sum of money, not exceeding in the 'whole the sum purposes. {)f One million four hundred and sixty-six thousand five hundred pounds, as may be' required for the retirement of the loan raised under "The. GI/vernment Loan Act of 1872,"* falling due on the first day of January, one thousand nine hundred and thirteen. 3. For the purpose of raising the whole or any part of Loans secured ~ mch sum, the Governor in Council may cause Debentures ~ ~ ~ ~ o~ ~ eated to be made out and sold, or may authorise the creation and Revenue. sale of Inscribed Stock as provided by "The Queensland Stock h. ~ scription Act of 18~3 "t; and all Debentures or Inscribed Stock so made out or created, and sold, shall be secured upon the Consolidated Revenue of the State, and shaH bear interest at a rate not exceeding Three pounds and kn shillings per centum per annum. 4. h'fhe bGovernor in Coun?bil may aUkt~ orisle thebsale 0df ~ e~ : ~ : ~ ~ : sd any sue De entures or Inscr1 ed Stoc in paces eyon Stock maybe the limits of th • e State, and ma • y appoint any agent or t ~ ho e ldl lm ? e: lt r s on 0 df agents to negotIate such sale. the State. 5. All sums borrowed under the authority of this Act Sums :shall be pa~ d to the 'freas?rer, and shall be by him placed k~ ~~ : e: ~ to the credIt of the Consohdated Revenue Fund; and shall accounted for. be applied for the purposes of retiring the loan raised under " The Government Loan Act of 1b72,"* amounting to One million four hundred and sixty-six thousand five hundred pounds. . 6. All sums borrowed under the authority of this Act bLeoarenpwaI,dhe. n to :shall be repayable not later than the first day of January, Qne thousand nine hundred and fifty-three. 7. All Debentures purporting to be issued by the S.ecurities Governor under the authority of this Act, and signed by : ~ ~ n~ o; ! riJ. or the Governor or by the Vice-President of the Executive or V~ ce. Council, and countersigned by the Treasurer, shall be r{ : s~ d: ! ~ ~ tve deemed to have been duly issued, and the holder thereof Council to be shall not be bound to inquire whether such issue was in !: ~ :d. d duly, fact duly authorised. * 36 Vie. No. 24, supra, page 1812. t 47 Vie. No. 1, supra, page 1847.

J ' j :> , 1.96 LOANS. .. - -- - - -----.-_.- --" .. _- Government Loan Act. 2 GEO. V. No. 23,1911. I~ te~ est and. 8. All interest uP.on any sums borrowed under the StombkempgriFmuanrdy author'lty 0 f t hI' S Act, and all contributions in respect of rcehvaernguese. on . dt. heeemSeindktiongbel!" a' ucndhahregreeiunpaoftnerapllrotvhiederdevfeonru, esshaolfl tbheeaSntdatbee, and the same when due shall be paid Dy the Treasurer out of such revenues in priority to all demands thereon, except the charges and expenses of the collection thereof and the interest upon the sum authorised to be borrowed under the authority of tne Government Loan Acts of 1875, 1876, 1877, 1878, 1879, 1881, 1882, 1884, 1889, 1890, 1894~ 1896, 1899, 1900, 1902, 1908, and 1910,* the Agricultural Lands Purchase Acts,t the Closer Settlement Acts,::: "The Savings Bank (Securities) Act of 1895,"§ "The Govern- ment Savings Bank Stock Acts, 1894 to 1897," 11 and the Treasury Bills Acts of ] 901, 1902, and 1911. ~ Sinking Fund 9. (1.) The Treasurer shall pay to the Trustees of the ; ~ t~ ~ lished. Public Debt Reduction Fund, on the thirtieth day of June and the thirty-first day of December in every year, until the whole of the sums borrowed under the authority of this Act have been repaid, a sum equal to ten shillings per centum per annum on the amount of such sums which have been so borrowed; and the said Trustees shall stand possessed of all such sums so paid to them and all interest received thereon as a Sinking Fund for the repayment of the sums b . orrowed under , the authority of this Act. Ithnevreesotmf. ent of the( 2a.) foTrehseaisdaipdayTmruesntetsesonshaaclcl osounstooofnthaefteSrintkhiengreFcuenipdt as· they in their judgment think expedient. invest the sums so received and shall also reinvest all interest accruing in respect of the investments of the Sinking Fund in Stock or Debentures or Treasury Bills issued by the Imperial Government or any Australian Government. ~ pp~ icationof (3.) ~ he Sinking Fund shall be applied solely in SlD~ IDgFund' repayment of the sums borrowed under. the authority of this· Act, and all expenses of and incidental to the re- payment of the sums borrowed under the authority of the Act and of or incidental to the management of the .. See Acts under title Loans, supra, pagps 1813 et uq. t 58 Vie. No. ~ 7, 6l Vie. No. 13; 1 Edw. VII. Nos. 9 and 23 repealed; see Historical Table, Index Volume. :t 6 Edw: VII. No. <12, supra, p.ge 1678; and 6 Edw. VII. No. 26, supra, page 4038. §59 Vie. No. 20, ,'''pi'a, page 118. 11 58 Vic. No. 31 and fil Vic. No. 1", supra, pages 121-et seq. -_...·. ·-'-1.. E4w, · . VI) : . · · - Ne. - 4- &nd· - 2- CE, tWo~ ¥ Il, · N- o. · · - 2{ ; , ···supf'a,'·pagt'S-1858'efr8(Hj,';--and 2 Geo.,V. No. 3,next . 1\. c~ . printed. , .' .

LOANS. 2 GEO. V. No. 3,1911. Treasury Bills Act. Sinking Fund shall be a charge upon and be paid' out of the revenues of the State. (4.) Whenever the Treasurer notifies to the said Sinking Fund Trustees that arrangement sahve been made 1 ~ 0r the Twrheeansutorerb' es at repayment of the whole or any part of the sums borrowed disposal. under the authority of this Act, the said Trustees shall take the necessary action so that the Sinking Fund or such part thereof as is required shall be available to the Treasurer for the purposes of such repayment. (5.) The Sinking Fund Account shall be audited once Audit. at least in each financial year by the Auditor-General. , (6.) The Auditor-General shall cause a report to be ~ eprt to laid on the table of each House of Parliament within one ar lament. month after the thirtieth day of June in each year, if Parliament is then sitting, and, if Parliament is not sitting, then within one month after the next sitting of Parliament, giving full information in connection with the operations on the Sinking Fund during the last financial year and up to the said thirtieth day of June. An Act to Authorise the Issue of Treasury Bills for 2 Geo, V. the purpose of Securing the Retirement of N T o H . E 3, Treasury Bills issued under "The Treasury T B R IL E L A S SU A R C Y T Bills Act of 1901" and" The Treasury Bills OF 1911, Act of 1902." [ASSEN'l'ED TO 16TH OCTOBER, 1911.] B E ,it enacted by the King's Most Excellent Majesty, by and with the ad:vice and consent of the Legis- lative Oouncil and Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows :- ' 1. This Act may be cited as "The Treaslt1'Y Bills Short title. Act of 1911." 2. The Governor in Council may raise by the issue of Treasur.yBills Treasury Bills any sum or sums of money, not exceeding f~ Y be ISSUed in the whole the sum of one million one hundred and thirtY;1,130,000. thousand pounds, for the purposes and subject to the provisions hereinafter expressed.