LOAN (HOUSING).
No. 26 of 1951.
An Act to
authorize the Raising of Moneys to be advanced to the States for the purposes
of Housing.
[Assented to 16th November, 1951.]
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 1951.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority to borrow £27,000,000.
3.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-seven million
pounds.
Application of money.
4.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