LOAN (HOUSING).
No. 60 of 1954.
An Act to
authorize the Raising of Moneys to be advanced to certain States for the
purposes of Housing.
[Assented
to 6th November, 1954.]
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 1954.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority
to borrow £32,000,000.
3.The
Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1946,
or under the provisions of an Act authorizing the issue of Treasury Bills,
borrow moneys not exceeding in the whole the sum of Thirty-two million 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.