LOAN.
No. 8 of 1951.
An Act to authorize the Raising and Expending
of a certain Sum of Money.
[Assented to 29th June, 1951.]
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 1951.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority to borrow £10,500,000.
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 Ten million five 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 £10,500,000.
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 Ten million five hundred
thousand 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...................................................................................
| 9,000,000 |
War Service Land
Settlement— |
Financial assistance to States in connexion with War Service Land
Settlement......
| 1,500,000 |
Total War (1939-45)
Services...................................................... | 10,500,000 |