LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969 [Note: This Act is "repealed" by Act No. 61 of 1981]
(#DATE 19:12:1973)
Compilation Information
- Reprinted as at 19 December 1973
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - TABLE OF
PROVISIONS
TABLE
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973
TABLE OF PROVISIONS
Section
1. Short title
2. Commencement
3. Authority to borrow $31,000,000
4. Securities
5. Application of Act to disbursements not paid to Commonwealth
6. Application of moneys
7. Appropriation
8. Application of sub-section 31 (5) of Australian National Airlines
Act
9. Exemption from taxes, &c.
10. National Debt Sinking Fund Act not to apply
11. Insurance
12. Reports
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LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 1.
Short title.
SECT
made available to the Australian National Airlines Commission, and for
purposes connected therewith.
Short title amended; No. 32, 1918, s. 2.
1. This Act may be cited as the Loans (Australian National Airlines
Commission) Act 1969-1973.*
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 2.
Commencement.
SECT
2. This Act shall come into operation on the day on which it receives the
Royal Assent.*
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 3.
Authority to borrow $31,000,000.
SECT
3. (1) Approval is given to the making and carrying out by the Commonwealth
of an agreement or agreements for or in relation to the borrowing by the
Commonwealth of moneys not exceeding in the whole Thirty-one million dollars
in the currency of the United States of America.
(2) Where moneys borrowed in pursuance of the last preceding sub-section are
borrowed in a currency other than the currency of the United States of
America, the amount borrowed in that other currency shall be taken to be the
equivalent in the currency of the United States of America ascertained in
accordance with the rate of exchange, as published by the International
Monetary Fund, prevailing at the time at which the moneys were borrowed.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 4.
Securities.
SECT
4. An agreement made in pursuance of this Act may provide for the issue and
delivery of promissory notes or other securities by or on behalf of the
Commonwealth in respect of any liability of the Commonwealth under such an
agreement.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 5.
Application of Act to disbursements not paid to Commonwealth.
SECT
5. Where the doing of an act or thing is, for the purposes of an agreement
entered into under this Act, a disbursement by a person in discharge of a
liability of the Australian National Airlines Commission, but the act or thing
is not, and does not entail, the payment of moneys by that person to the
Commonwealth, the doing of that act or thing shall, for the purposes of this
Act, be taken to be a loan by that person to the Commonwealth of an amount
equal to the amount of the disbursement.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 6.
Application of moneys.
SECT
6. (1) The Commonwealth may, on such terms and conditions as the Treasurer
determines, for the purposes of enabling the purchase by the Australian
National Airlines Commission of-
(a) one Boeing 727 aircraft and related spare parts and equipment; and
(b) six Douglas DC9 aircraft and related spare parts and equipment,
make available to the Commission, by way of loan or other credit arrangements,
amounts equivalent to the proceeds of any loan raised under the authority of
this Act.
(2) Moneys required for the purpose of the last preceding sub- section are
payable out of the Loan Fund, which is appropriated accordingly.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 7.
Appropriation.
SECT
7. Any moneys payable by the Commonwealth under an agreement made in
pursuance of this Act or under a promissory note or other security under such
an agreement, including the expenses of borrowing, commitment fees, interest
and other charges, are payable out of the Consolidated Revenue Fund, which is
appropriated accordingly.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 8.
Application of sub-section 31 (5) of Australian National Airlines Act.
SECT
8. Amounts made available to the Australian National Airlines Commission by
the Commonwealth under this Act shall not be taken into account for the
purposes of sub-section (5) of section 31 of the Australian National Airlines
Act 1945-1966.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 9.
Exemption from taxes, &c.
SECT
Amended by No. 216, 1973, s. 3.
9. Where an agreement made in pursuance of this Act provides that-
(a) the agreement or any matter or thing related to the agreement;
(b) a promissory note or other security under the agreement or for the
purposes of the agreement; or
(c) a payment made under the agreement or under such a promissory note or
other security,
is to be exempt or free from taxes, duties, fees, restrictions, charges or
other matters, that agreement, matter, thing, note, security or payment is so
exempt or free notwithstanding anything contained in any law of the
Commonwealth or of a State or Territory.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 10.
National Debt Sinking Fund Act not to apply.
SECT
10. The National Debt Sinking Fund Act 1966-1967 does not apply in relation
to moneys borrowed under an agreement made in pursuance of this Act.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 11.
Insurance.
SECT
11. If, under an agreement entered into in pursuance of this Act, the
Commonwealth is required to cause the Australian National Airlines Commission
to do an act or thing in relation to the insurance of the aircraft or other
goods referred to in section 6 of this Act, the Treasurer may require the
Commission to do that act or thing and the Commission shall comply with that
requirement.
LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - SECT. 12.
Reports.
SECT
12. The Treasurer may, from time to time, require the Australian National
Airlines Commission to furnish to him such reports and information as are
necessary to enable the Commonwealth to carry out the obligations of the
Commonwealth under an agreement entered into under this Act and the Commission
shall comply with that requirement.
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LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1969-1973 - NOTE
NOTE
1. The Loans (Australian National Airlines Commission) Act 1969-1973
comprises the Loans (Australian National Airlines Commission) Act 1969 as
amended by the other Act specified in the following table:
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Number Date of
Act and year Date of
Assent commencement
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Loans (Australian
National Airlines
Commission) Act 1969 No. 98, 1969 27 Sept 1969 27 Sept 1969
Statute Law Revision Act
1973 No. 216, 1973 19 Dec 1973 31 Dec 1973
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