LOAN (No. 1).
No. 3 of 1924.
An Act to authorize the Raising and Expending of
certain Sums of Money.
[Assented to 20th June, 1924.]
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 (No. 1) 1924.
Authority
to borrow £850,000.
2. The
Treasurer may from time to time under the provisions of the Commonwealth Inscribed Stock Act 1911-1918,
or under the provisions of any Act authorizing the issue of Treasury Bills,
borrow
moneys
not exceeding in the whole the amount of Eight hundred and fifty thousand
pounds.
Purpose
for which money may be borrowed.
3. 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 £822,000.
4. There
may be issued and applied out of the proceeds of any Loan raised under the
authority of any Loan Act, including the present Act, the sum of Eight hundred
and twenty-two thousand pounds for the purposes set forth in the Schedule to
this Act.
SCHEDULE.
——
UNDER
THE CONTROL OF THE DEPARTMENT OF THE TREASURY.
£ |
Loan
to the Territory of New Guinea for works........................................................ | 10,000 |
UNDER THE CONTROL OF
THE HOME AND TERRITORIES DEPARTMENT AND THE DEPARTMENT OF WORKS AND RAILWAYS.
|
Works, Services, and Acquisition
of Land in Federal Capital Territory
| £320,000 |
(All receipts from the Federal
Capital Territory to be credited to this vote).
|
Deduct estimated receipts................................................
| 45,000 |
275,000 |
UNDER THE CONTROL OF
THE DEPARTMENT OF WORKS AND RAILWAYS. |
Acquisition
of and alterations to vessels for Lighthouse purposes.................................
| 37,000 |
UNDER THE CONTROL OF
THE POSTMASTER-GENERAL’S DEPARTMENT. |
Construction and extension of
telegraphs and telephones, also construction of conduits and laying wires
underground.........................................................................................................
| 500,000 |
Total........................................................
| £822,000 |