Loan Act 2012 (WA)

Western Australia

Loan Act 2012

Western Australia

Loan Act 2012

CONTENTS

1.	Short title	2
2.	Commencement	2
3.	Power to borrow money for public purposes	2
4.	How sums borrowed are to be applied	2
5.	Principal, interest and expenses payable out of
Consolidated Account	2

Western Australia

Loan Act 2012

No. 60 of 2012

An Act to authorise the borrowing of a sum of five billion dollars for public purposes.

[Assented to 11 December 2012]

The Parliament of Western Australia enacts as follows:

Loan Act 2012

s. 1

1.             Short title

This is the Loan Act 2012.

2.             Commencement

This Act comes into operation as follows —

(a)	sections 1 and 2 — on the day on which this Act receives the Royal Assent;
(b)	the rest of the Act — on the day after that day.

3.             Power to borrow money for public purposes

The Treasurer may borrow sums of money, not exceeding in the

aggregate the sum of $5 000 000 000, from the Western

Australian Treasury Corporation or elsewhere, for public

purposes.

4.             How sums borrowed are to be applied

All sums borrowed under the authority of this Act are to be paid

to the Treasurer and credited to the Consolidated Account.

5.             Principal, interest and expenses payable out of Consolidated Account

The principal moneys, interest and other expenses of

borrowings under the authority of this Act are payable out of the

Consolidated Account and that Account is appropriated

accordingly by this section.