LOAN (HOUSING).
No. 21 of 1950.
An Act to authorize the Raising of Moneys to be advanced to the
States for the purposes of Housing.
[Assented to 9th November, 1950.]
[Date of commencement, 7th December, 1950.]
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 (Housing) Act 1950.
Authority
to borrow £26,000,000.
2.The
Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1946,
or under the provisions of any Act authorizing the issue of Treasury Bills,
borrow moneys not exceeding in the whole the sum of Twenty-six million pounds.
Application
of money.
3.Moneys
borrowed under this Act shall be issued and applied only for the expenses of
borrowing and for making advances to the States for the purposes of housing in
pursuance of the agreement the execution of which is authorized by the Commonwealth and State Housing Agreement Act
1945