Loan Act (No. 2)
1982
No.
107 of 1982
An
Act to authorize the borrowing and expending of moneys for defence purposes
[Assented to 5 November 1982]
BE IT ENACTED by the Queen, and 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) 1982.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Authority
to borrow
3. The Treasurer may, from
time to time during the financial year ending on 30 June 1983, in accordance
with the provisions of the Commonwealth
Inscribed Stock Act 1911, or in accordance with the provisions of an Act
authorizing the issue of Treasury Bills, borrow moneys not exceeding in the
aggregate $1,500,000,000.
Application
of moneys borrowed
4. Moneys borrowed under
section 3 shall be issued and expended only for-
(a)
the expenses of borrowing;
(b)
services specified under the heading “DEPARTMENT OF DEFENCE” in—
(i)
the Supply Act (No. 1) 1982-83; or
(ii)
an Act passed after the commencement of this Act and appropriating the
Consolidated Revenue Fund for the service of the year ending 30 June 1983,
being an Act that is expressed to have effect subject to this Act; and
(c)
services specified under the heading “DEPARTMENT
OF DEFENCE SUPPORT” in an Act
passed after the commencement of this Act and appropriating the Consolidated
Revenue Fund for the service of the year ending 30 June 1983, being an Act that
is expressed to have effect subject to this Act.
Appropriation
5. The Loan Fund is
appropriated to the extent necessary for the purposes of this Act.
Limitation
of expenditure
6. (1) Nothing in this Act or
in an Act referred to in section 4 shall be taken to authorize the expenditure
for a service referred to in section 4 of an amount the expenditure of which
would result in the total expenditure for that service under this Act and the
Acts referred to in section 4 exceeding the total of the amounts authorized by
the Acts referred to in section 4 to be expended in respect of that service.
(2) Sub-section (1) does
not affect the expenditure of moneys appropriated under the heading “ADVANCE TO THE MINISTER FOR FINANCE” in an Act referred to in section 4.
(3)