Government Loan Act of 1931 (22 Geo v No. 26) (Qld)

LOANS. 22 GEO. V. No. 26,1931. Government Loan Act. 13835 LOANS. An Act to Authorise the Making of Arrangements 22 N G o E . O 2 . 6. V. by the State of Queensland pursuant to THE the Provisions of "The Commonwealth and MGENOTVELRONA-N States Financial Agreement Ratification ACT OF 1931. Act of 1927" for the Raising of a Loan by the State, and for other purposes. . [ASSENTED TO 10TH DEOEMBER, 1931.] W HEREAS it is expedient to authorise the making Pream ble. of arrangements by the State of Queensland, pursuant to the provisions of *" The Oommonwealthand States Financial Agreement Ratification Act of 1927," for the raising of a Loan by the said State of certain sums of money amounting to Five million pounds for the purpose of meeting deficits (actual and/or prospective) in the Consolidated Revenue Fund: Be it therefore enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland 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 1931." 2. For the purposes of this Act-- tIinotne. rpret; (a) The term" Financial Agreement" shall mean the Agreement as set forth in the Schedule to *" 'Phe Oommonwealth and States Financial Agreement Ratification Act of 1927"; (b) The terms" Government Stock" and ,'- In- scribed Stock" shall have the same meanings respectively assigned to them as defined in t" The Government Loan Act of 1928." * 18 Geo. V. No. 22. supra, page 11851. t 19 Geo. V. No. 9, supra, page 12195.

13836 LOANS. Government Loan Act. 22 GEO. V. No. 26, wArecaittdhto" as T boe h n e e subje 3 c . t TtohisthAectpsrhoavlilsiboensreoaf d *". a T n h d e c C on om st m ru o e n d we w a i l t t h h a a n n d d Common- States Financial Agreement Ratification Act of 1927," wSteaatelt8h and and nothing in this Act shall be construed in derogation Financial of any provision of the Financial Agreement. . Agreement Ratification Act of 1927." Authority of 4. The Governor in Council is hereby authorised ::: ~ : to and empowered to make aITangements in accordance arrange- with and in the manner provided in the Financial : ~ ~ t~ t~ oan Agreement- for the raising of a Loan for the Public of Service of the State of Queensland of sums of money not £5,000,000. exceeding in the whole the sum of Five million pounds for expenditure for the purpose following, that is to say- For the purpose of meeting deficits (actual and/or prospective) in the Consolidated Revenue Fund .. £5,000,000 The sum in respect of which aITangements for the raising thereof are hereby authorised shall include such additional sums as may be necessary in order actually to produce to the Treasury the said sum after providing for ,all costs, charges, and expenses connected with the raising thereof. Loans 5. (1.) Subject to this Act, for the purpose of raising secured upon the whole or any part of such sum pursuant to any ~ ~ nsolidated such aITangement which may be made as aforesaid, the Revenue. Governor in Council may subject to any such arrangement cause Government Stock or Inscribed Stock to be issued or created and delivered or sold. All Government Stock or Inscribed Stock so issued or created and delivered or sold- (a) Shall be secured upon the Consolidated Revenue of the State; and (b) Shall bear interest at a rate fixed by the Governor in Council according as necessity demands; and (c) Shall be repayable at a date or dates to be fixed by the Governor in Council. Stock may (2.) The Governor in Council may subject to any ~ : ; ~ ~ ~ the such a:rrangement which may be made as aforesaid limits of the authOrISe the sale of any such Government Stock or State. Inscribed Stock in places beyond the limits of the * 18 Geo. V. No. 22, supra, page 11851.

LOANS. 13837 1931. Gove.rmnmtt Loan Act. State, and may appoint any agent or agents to negotiate such sale and to enter into and execute any contract or contracts therefor. (3.) All Government Stock purporting to be issued Government under the authority of this Act, if signed by the Governor ~ tockd, ; ~~ n or by the Vice-President of the Executive Council and is~ ~~ ; . y countersigned by the Treasurer, or, if such issue purports to have been made in any place beyond the limits of the State, signed as prescribed by the Governor in Council, shall be deemed to have been duly issued, and the holder thereof shall not be bound to in<luire ,,,hether such issue was in fact duly authorised. 6. Subject to this Act all sums borrowed under the Sums authority of this Act shall be paid to the Treasurer, and borrowed- shall be by him placed to the credit of the Consolidated ~ ~ : ~ t~ ~ Revenue Fund. for. 7. Pending the final disposal of any Government Temporary Stock or Inscribed Stock authorised by this Act to be advances. issued or created, the Governor in Council may obtain temporary advances from any bank, corporation, financial institution, or other source for such period and on such terms as to interest or otherwise as he thinks fit. 8. The provisions of *" The Government Loans Application Redemption and Conversion Act of 1923" shall apply of 14 Geo. v. to the Loan hereby authorised to be raised. No. 37. 9. All interest upon any sums borrowed under the Interest and authority of this Act, and all contributions in respect of Sinking any Sinking Fund hereinafter provided for, and all sums : ~ ~ ~ ; ; be of money necessary for the purchase of Government charges on Stock issued and sold under the conditions in the next revenue. succeeding section hereof, shall be and be deemed to be a charge upon all the revenues of the State, and the same when due shall be paid by the Treasure~ out of such revenues in the following order:- Firstly, the said interest; and Secondly, the said contributions and purchase moneys; in priority to all demands on such revenues, except the charges and expenses· of the collection thereof and the * 14 Geo. V. No. 37, supra, page 10657.

13838 LOANS. Government Loan Act. 22 GEO. V. No. 26,1931. interest upon the sums authorised to be borrowed under the authority of the :I<Government Loan Acts of 1890, 1894, 1896, 1899, 1900, 1902, 1908, 1910, 1911, 1914, 1918, 1921, 1924, 1926, and 1928, the Agricultural Lands Purchase Acts, the Closer Settlement Acts, t" The Government Savings Bank Stock Acts, 1894 to 1897," "The Commonwealth Bank Agreement Ratification and State Ad'vances Act of 1920," and t" The Govern~entLoans Redemption and Conversion Act of 1923." Spec~ a! 10. Any Government Stock or Inscribed Stock ptorOsVtolSclOk.n as. Issue c . l or created and de 1 I · vered or soId under t he authority of this Act may, if the Governor in Council so directs, and subject to the provisions of §" The Commonwealth and States Financial Agreement Ratification Act of 1927," be issued or created and delivered or sold subject to the condition that a proportion of the principal moneys representing such stock shall be redeemed at stated intervals during the period of the currency of such stock, or to a condition that a certain amount shall be set apart at fixed periods for the purpose of purchasing such stock at such price and on such terms and conditions as ar~ deemed desirable. Moneys so set apart may be payable to any bank or agent approved by the Governor in Council, to be defrayed by such bank or agent for the purpose aforesaid. Sinking Fund. 11. (1.) As provided by §"The Commonwealth and States Financial Agreement Ratification Act of 1927," the Treasurer shall pay to the National Debt Commission, until the whole of the sums borrowed under the authority of this Act have been redeemed, such sums by way of Sinking Fund payments as are prescribed by virtue of the provisions of the Financial Agreement; and the said National Debt Commission shall stand possessed of all such sums so paid to them and all interest received thereon as a Sinking Fund for the redemption of the sums borrowed under the authority of this Act. * 54 Vic. No. 25 et seq, supra, pages 1830 et seq. (See Alphabetical Table of Acts). t 58 Vic. No. 31 and 61 Vic. No. 8, supra, pages 121, 124. For refer- ences to other Acts in section 9, see Alphabetical Tables, supra, titles, "Loans t ," 14"GLeaon. dVs.," Noa. n3d7," s B up an ra k , s. p"age 1065 • 7. § 18 Geo. V. No. 22, supra, page 11851.

LOANS-MARGARINE 13839 22 GEO. V. No. 16, 1931. Margarine Act Amendment Act. (2.) The Auditor-General shall cause a report to be Repo.rt to. made to the Legislative Assembly in each year, giving Parliament. full information in connection with the operations of such Sinking Fund during the last preceding financial year. LOCAL AUTHORITY. See WATER. LOCAL BODIES. See TRUSTEES, PROTECTION TO. MARGARINE. An Act to Amend "The Margarine Act of 1910" 2~ ~ ~ ~ 6. " · in certain particulars. THE MARGARINE [ ASSENTED TO 15TH OCTOBER, 1931.] ACT AMENDMENT B E it enacted by the King's Most Excellent Majesty, ACT OF 1931. . by and with the advice and consent of the Legis- lative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. This Act may be cited as "The Margarine Act Sho.rt title Amendment Act of 1931," and shall be read as one with : ~ ! tructio. n. *"The Margarine Act of 1910," herein referred to as the Principal Act. The Principal Act and this Act may collectively be cited as " The Margarine Acts, 1910 to 1931." Amendments of the Principal Act. . Act I . 2 S ' amTheenddeedfiansitifoolnloowfs " : M-argarine" in the Principa 1 A ~ m L e L ndment After the word" inc1udes " the words "all prepara- tions resembling butter or" are inserted. Also after the words "vegetable oils" the words "or vegetable fats" are inserted. 3, Paragraph (a) of subsection two of section sevenAfme~ dment of the Principal Act is amended by deleting the word 0. s. • "shopkeeper" and inserting the word" shop" in lieu thereof. * I Geo.. V. No.. 9., supra, page 2035.