LOAN
(WAR SERVICE LAND SETTLEMENT).
No. 61 of 1954.
An Act to
approve the Borrowing of Moneys for a Defence Purpose, namely Financial
Assistance to the States of South Australia, Western Australia and Tasmania in
connexion with War Service Land Settlement, and to authorize the Expending of
those Moneys.
[Assented to 6th November, 1945.]
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 (War Service Land Settlement) Act 1954.
Commencement.
2.This
Act shall come into operation on the day on which it receives the Royal Assent.
Authority
to borrow £5,000,000.
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 Five million 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 financial assistance to the States of South
Australia, Western Australia and Tasmania in connexion with war service land
settlement.