LOAN (HOUSING).
No.
66 of 1953.
An Act to
authorize the Raising of Moneys to be advanced to certain States for the
purposes of Housing.
[Assented
to 28th October, 1953.]
BE it
enacted by the Queen’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 1953.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Authority
to borrow £37,200,000.
3.The Treasurer may, from time to time, under the
provisions of the Commonwealth Inscribed
Stock Act 1911-1946, or under the provisions of an Act authorizing the
issue of Treasury Bills, borrow moneys not exceeding in the whole the sum of Thirty-seven
million two hundred thousand pounds.
Application
of moneys.
4.Moneys borrowed under this Act shall be issued and
applied only for the expenses of borrowing and for making advances to the
States of New South Wales, Victoria, Queensland, South Australia and Western
Australia for the purposes of housing in accordance with the agreement executed
in pursuance of the authority conferred by the Commonwealth and State Housing Agreement Act 1945