LOAN.
No. 17
of 1934.
An Act
to authorize the Raising and Expending of a certain Sum of Money.
[Assented
to 4th August, 1934.]
BE it enacted by the King’s Most Excellent Majesty,
the Senate, and the House of Representatives of the Commonwealth of Australia,
as follows:—
Short title.
1.This Act may be cited as
the Loan Act 1934.
Authority to borrow £1,050,000.
2.The Treasurer may, from
time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1933,
or under the provisions of any Act authorizing the issue of Treasury Bills,
borrow moneys not exceeding in the whole the amount of One million and fifty
thousand pounds.
Purpose for which money may be borrowed.
3.The amount borrowed shall
be issued and applied only for the expenses of borrowing and for the purposes
of appropriations made or to be made by law.
Issue and application of £1,000,000.
4.There may be issued and
applied out of the proceeds of any Loan raised under the authority of any Loan
Act, including this Act, the sum of One million pounds for the purposes set
forth in the Schedule to this Act.
THE SCHEDULE.
— | Appropriated by this Act. |
THE POSTMASTER-GENERAL’S DEPARTMENT. | £ |
Under Control of the
Postmaster-General’s Department and the Department of the Interior. |
Telephone exchange
services; trunk line services; buildings and sites................
| 1,000,000 |