LOAN
(HOUSING).
No.
62 of 1960.
An Act to
authorize the Raising and Expending of Moneys for the purposes of Housing.
[Assented
to 25th November, 1960.]
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 1960.
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, 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-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 the purpose of making advances to States—
(a) in accordance with the agreement
executed in pursuance of the authority conferred by the Housing Agreement Act 1956; or
(b