LOAN
(No. 2).
No.
26 of 1942.
An Act to authorize the Raising and Expending
of a certain Sum of Money.
[Assented to 9th June, 1942.]
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) 1942.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority
to borrow £100,000,000.
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 One hundred million pounds.
Purposes
for which money may be expended.
4.The
amount borrowed may 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 £100,000,000.
5.