LOAN.
No. 1 of 1942.
An Act
to authorize the Raising and Expending of a certain Sum of Money.
[Assented
to 9th March, 1942.]
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 1942.
Commencement
2. This Act shall come into operation on the day on which it receives
the Royal Assent.
Authority
to borrow £75,000,000.
3. The Treasurer may, from time to time, borrow, under the provisions
of the Commonwealth Inscribed Stock Act 1911-1940,
or under the provisions of any Act authorizing the issue of Treasury Bills,
moneys not exceeding in the whole the amount of Seventy-five million pounds.
Purposes
for which money may be expended.
4. The amount borrowed may be issued and applied for the expenses of
borrowing and for the purposes of appropriations made, or to be made, by law.
Issue
and application of £75,000,000.
5.