LOAN
(NO. 3).
No. 64 of 1941.
An Act
to authorize the Raising and Expending of a certain Sum of Money.
[Assented
to 3rd December, 1941.]
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. 3) 1941.
Commencement.
2. This Act shall come into operation on the day on which it receives
the Royal Assent.
Authority
to borrow £1,515,000.
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 million five hundred and fifteen thousand pounds.
Purpose
for which money may be borrowed.
4. 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 £l,500,000.
5. There may be issued and applied out of the proceeds of any loan
raised under the authority of this Act, or any other Act, the sum of One
million five hundred thousand pounds for the purposes set forth in the Schedule
to this Act.
THE
SCHEDULE.
— | Appropriated by this
Act. |
Postmaster-General’s
Department. |
Under Control of
Postmaster-General’s Department and Department of the Interior—
| £ |
Telephone exchange services..................................................................... | 860,000 |
Trunk line services.................................................................................... | 331,000 |
Telegraph and miscellaneous services........................................................ | 38,000 |
National Broadcasting service................................................................... | 26,000 |
Buildings, works, sites, fittings and furniture.............................................. | 245,000 |
Total
Postmaster-General’s Department............................................ | 1,500,000 |