LOAN (HOUSING).
No.
75 of 1959.
An Act to authorize the Raising and
Expending of Moneys for the purposes of Housing.
[Assented
to 1st December, 1959.]
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 1959.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Authority
to borrow £36,080,000.
3.The Treasurer may, from time to time, in accordance
with the provisions of the Commonwealth
Inscribed Stock Act 1911–1946, or in accordance with the provisions of any
Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the
whole Thirty-six million and eighty thousand pounds.
Application
of moneys.
4. Moneys borrowed under
this Act shall be issued and applied only for the expenses of borrowing and for
the purpose of making advances to States in accordance with the agreement
executed in pursuance of the authority conferred by the Housing Agreement Act 1956