LOAN
(No. 2).
No. 45 of 1940.
An Act to authorize the Raising and Expending of a certain Sum of
Money, and for other purposes.
[Assented to 22nd June, 1940.]
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. 2) 1940.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority
to borrow £20,000,000.
3. The
Treasurer may, from time to time, borrow, under the provisions of the Commonwealth Inscribed Stock Act 1911-1940,
or under the provisions of any Act authorizing the issue of Treasury Bills,
moneys not exceeding in the whole the amount of Twenty million pounds.
Purposes
for which money may be expended.
4.The
amount borrowed may be issued and applied for the expenses of borrowing and for
the purposes of appropriations made, or to be made, by law.
Issue
and application of £20,000,000.
5.There
may be issued and applied out of the proceeds of any loan raised under the
authority of this Act, or of any other Act, the sum of Twenty million pounds
for war purposes.
Application
of moneys appropriated for Department of Supply and Development for Department
of Munitions.
6. Notwithstanding
anything contained in the Loan Act 1939.
the Loan Act (No. 2) 1939 or the Loan Act 1940