Loan (Housing) Act 1955 (Cth)

LOAN (HOUSING).

No. 45 of 1955.

A n Act to authorize the Raising and Expending of

Moneys for the purposes of Housing.

£33,200,000. provisions of the Commonwealth Inscribed Stock Act 1911-1946, or in

[Assented to 2nd November, 1955.]

Australia, as follows:— BE it enacted by the Queen's Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of

Short title.	1. This Act may be cited as the Loan (Housing) Act 1955.
Commencement.	2. This Act shall come into operation on the day on which it

receives the Royal Assent.

Authority

to borrow 3. The Treasurer may, from time to time, in accordance with the

1955. Loan (Housing). No. 45.

accordance with the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole Thirty-three million two hundred thousand pounds.

4. Moneys borrowed under this Act shall be issued and applied Application

only for the expenses of borrowing and for the purpose of making	of moneys.
advances to a State or States—

(a) in accordance with the agreement executed in pursuance of the authority conferred by the Commonwealth and State Housing Agreement Act 1945 or with tha t agreement as varied in relation to a State by a further agreement approved by the Parliament; or

(b) in accordance with an Act authorizing the making of advances

to t ha t State or those States for the purposes of housing.