LOAN.
No.
77 of 1958.
An Act to Authorize the Raising and
Expending of a certain Sum of Money for Defence Purposes.
[Assented
to 10th October, 1958.]
BE
it enacted by the Queen’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 1958.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Authority
to borrow £110,000,000.
3. The Treasurer may, during the year which commenced on the first day
of July, One thousand nine hundred and fifty-eight, 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 One hundred and ten
million pounds.
Purposes
for which moneys borrowed may be applied.
4.—(1.) Moneys borrowed under this Act shall be
issued and applied only for the expenses of borrowing and for the defence
purposes specified in the Schedule to this Act.
(2.) The moneys issued and applied for a purpose
specified in the Schedule to this Act shall not exceed in the whole the amount
specified in that Schedule opposite to that purpose.
THE SCHEDULE.Section
4
——
£ |
Meeting
expenditure specified under the heading “XXI.—DEFENCE SERVICES” in Part I. of
the Second Schedule to the Appropriation
Act 1958-59..................................... | 78,000,000 |
Redemption
of Commonwealth securities issued for war purposes ................. | 32,000,000 |
110,000,000 |