LOAN.
No. 27 of 1950.
An Act to authorize the Raising and Expending
of a certain Sum of Money.
[Assented to 28th November, 1950.]
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 1950.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority
to borrow £29,100,000.
3.The
Treasurer may, from time to time, borrow, under the provisions of the Commonwealth Inscribed Stock Act 1911–1946,
or under the provisions of any Act authorizing the issue of Treasury Bills,
moneys not exceeding in the whole the amount of Twenty-nine million one hundred
thousand pounds.
Purposes
for which money may be borrowed.
4.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 £29,000,000.
5.There
may be issued and applied out of the proceeds of any loan raised under the
authority of this Act, or any other Act, the sum of Twenty-nine million pounds
for the purposes set forth in the Schedule to this Act.
THE SCHEDULE.
WAR
(1939–45) SERVICES.
Appropriated by this Act. |
War Service Homes— Expenditure under War
Service Homes Act 1918–1949—for payment to credit of the War Service
Homes Trust Account.........................................................
| £ 25,000,000 |
War Service Land Settlement— Financial assistance to States in connexion with War Service Land
Settlement
| 4,000,000 |
Total War (1939–45) Services.................... | 29,000,000 |