Loan (War
Service Land Settlement) Act 1980
No. 5 of 1980
An Act to
authorize the raising and expending of a sum not exceeding $3,000,000 for a
defence purpose, namely, financial assistance to South Australia and Western Australia
in connection with war service land settlement
[Assented to 24 March 1980]
BE
IT ENACTED by the Queen, and 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 1980.
Commencement
2. This Act shall come
into operation on the day on which it receives the Royal Assent.
Authority
to borrow $3,000,000
3. The Treasurer may, from
time to time, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911, or in accordance with the
provisions of any Act authorizing the issue of Treasury Bills, borrow moneys
not exceeding in the whole $3,000,000.
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 South Australia and Western Australia in
accordance with sub-section 2(1) of the States
Grants (War Service Land Settlement) Act 1952