Loan Act 2015 (WA)

Western Australia

Loan Act 2015

Western Australia

Loan Act 2015 Contents

Western Australia

Loan Act 2015

Loan Act 2015

No. 17 of 2015

An Act to authorise the borrowing of eight billion dollars for public purposes.

[Assented to 25 June 2015]

The Parliament of Western Australia enacts as follows:

1.Short title

This is the Loan Act 2015.

2.Commencement

This Act comes into operation on the day on which it receives the Royal Assent.

3.Power to borrow for public purposes

The Treasurer may borrow for public purposes, from the Western Australian Treasury Corporation or elsewhere, sums of money not exceeding $8 000 000 000 in aggregate.

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, 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.