LOAN.
No. 65 of 1963.
An Act to Authorize the Raising and Expending
of a sum for Defence Purposes.
[Assented to 30th October, 1963.]
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 1963.
Commencement.
2.This Act shall come
into operation on the day on which it receives the Royal Assent.
Authority
to borrow £62,500,000.
3.The
Treasurer may, during the year that commenced on the first day of July, One
thousand nine hundred and sixty-three, 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 Sixty-two million five hundred thousand
pounds.
Purposes
for which moneys borrowed may be applied.
4.Moneys
borrowed under this Act shall be issued and applied for the expenses of
borrowing and for the purpose of meeting expenditure specified in Part 1 of the
Second Schedule to the Appropriation Act 1963-64
under the heading “XX.—DEFENCE SERVICES.”.
Limitation
of expenditure.
5.—(1.) Nothing
in the preceding provisions of this Act or in the Appropriation Act 1963-64 authorizes the expenditure for a purpose
or service expressed in Part 1 of the Second Schedule to the Appropriation Act 1963-64 under the
heading “XX.—DEFENCE SERVICES.” of an amount the expenditure of which would
result in the total expenditure under the two Acts for that purpose or service
exceeding the amount specified in that Part in respect of that purpose or
service.
(2.) The last preceding sub-section does not affect
the expenditure of the moneys appropriated by the Appropriation Act 1963-64 under the head “Advance to the Treasurer”.
(3.) Nothing in this Act authorizes expenditure
(otherwise than for the expenses of borrowing) after the thirtieth day of June,
One thousand nine hundred and sixty-four.