Loan (Housing)
No. 96 of 1970
An
Act to Authorize the Raising and Expending of a sum not exceeding One hundred
and forty-two million five hundred and fifty thousand dollars for the purposes
of Housing.
[Assented to 4 November 1970]
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 1970.
Commencement.
2.This Act shall come into operation on the day on which
it receives the Royal Assent.
Authority
to borrow $142,550,000.
3.The Treasurer may, from time to time, in accordance
with the provisions of the Commonwealth
Inscribed Stock Act 1911–1966, or in accordance with the provisions of any
Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the
whole One hundred and forty-two million five hundred and fifty thousand
dollars.
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 the States—
(a) in pursuance of section 4 of the Housing
Agreement Act 1966; or
(b)