Loan (War Service Land Settlement) Act 1972 (Cth)

Loan (War Service Land Settlement) Act 1972

No. 91 of 1972

An Act to authorize the Raising and Expending of a sum not exceeding Six million five hundred thousand dollars for a Defence Purpose, namely, Financial Assistance to the States of South Australia, Western Australia and Tasmania in connexion with War Service Land Settlement

       

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Loan (War Service Land Settlement) Act 1972

No. 91 of 1972

An Act to authorize the Raising and Expending of a sum not exceeding Six million five hundred thousand dollars for a Defence Purpose, namely, Financial Assistance to the States of South Australia, Western Australia and Tasmania in connexion with War Service Land Settlement

[Assented to 18 October 1972]

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

1Short title

 This Act may be cited as the Loan (War Service Land Settlement) Act 1972.

2Commencement

 This Act shall come into operation on the day on which it receives the Royal Assent.

3Authority to borrow $6,500,000

 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 Six million five hundred thousand dollars.

4Application of moneys

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 accordance with subsection (1) of section 2 of the States Grants (War Service Land Settlement) Act 1952‑1953.