Loans (Australian National Airlines Commission) Act 1976 (Cth)

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 [Note: This Act is "repealed" by Act No. 6 of 1988]
(#DATE 31:05:1982)

- Reprinted as at 31 May 1982 *1* The Loans (Australian National Airlines Commission) Act 1976 as shown in this reprint comprises Act No. 22, 1976 amended as indicated in the Tables below.

Table of Acts ----------------------------------------------------------------------------- Application, saving Number Date Date of or transitional Act and year of Assent commencement provisions ----------------------------------------------------------------------------- Loans (Australian National Airlines Commission) Act 1976 22, 1976 12 Apr 1976 12 Apr 1976 Administrative Changes (Consequential Provisions) Act 1978 36, 1978 12 June 1978 12 June 1978 S. 8 ----------------------------------------------------------------------------- Table of Amendments ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted ----------------------------------------------------------------------------- Provision affected How affected ----------------------------------------------------------------------------- S. 7 . . . . . . . . . am. No. 36, 1978 -----------------------------------------------------------------------------

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - TABLE OF 
PROVISIONS 
TABLE

                             TABLE  OF  PROVISIONS

Section
  1.       Short title
  2.       Commencement
  3.       Authority to borrow $9,302,400
  4.       Moneys borrowed in other currencies
  5.       Securities
  6.       Application of Act to disbursements not paid to the Commonwealth
  7.       Application of moneys
  8.       Appropriation
  9.       Exemptions 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 1976 - LONG TITLE 
SECT

An Act to authorize the Borrowing by the Commonwealth of a certain sum of
Money and to authorize the Commonwealth to make certain Moneys available to
the Australian National Airlines Commission, and for purposes connected
therewith

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 1. 
Short title 
SECT

  1. This Act may be cited as the Loans (Australian National Airlines
Commission) Act 1976.*1*

See notes to first article of this CHAPTER.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 2. 
Commencement 
SECT

  2. This Act shall come into operation on the day on which it receives the
Royal Assent.*1*

See notes to first article of this CHAPTER.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 3. 
Authority to borrow $9,302,400 
SECT

  3. 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, in the currency of the United States of America or in any other
currency, of moneys not exceeding in the aggregate $9,302,400 in the currency
of the United States of America.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 4. 
Moneys borrowed in other currencies 
SECT

  4. Where moneys borrowed under an agreement made in pursuance of this Act
are borrowed in a currency other than the currency of the United States of
America, the amount borrowed in that other currency shall, for the purposes of
section 3, be taken to be the amount in the currency of the United States of
America that was equivalent to the first-mentioned amount at the date of the
agreement, as ascertained by the Reserve Bank of Australia.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 5. 
Securities 
SECT

  5. 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 the
agreement.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 6. 
Application of Act to disbursements not paid to the Commonwealth 
SECT

  6. Where the doing of an act or thing is, for the purposes of an agreement
made in pursuance of this Act, a disbursement by a person in discharge of a
liability of the Commonwealth or 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 1976 - SECT. 7. 
Application of moneys 
SECT

  7. (1) The Commonwealth may, on such terms and conditions as the Minister
for Finance determines, for the purpose of the purchase by the Australian
National Airlines Commission of a Boeing 727-276 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 by
means of an agreement made in pursuance of this Act.

  (2) Moneys required for the purpose of sub-section (1) are payable out of
the Loan Fund, which is appropriated accordingly.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 8. 
Appropriation 
SECT

  8. 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 1976 - SECT. 9. 
Exemptions from taxes, &c. 
SECT

  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 1976 - SECT. 10. 
National Debt Sinking Fund Act not to apply 
SECT

  10. The National Debt Sinking Fund Act 1966-1967 does not apply to moneys
borrowed under an agreement made in pursuance of this Act.

LOANS (AUSTRALIAN NATIONAL AIRLINES COMMISSION) ACT 1976 - SECT. 11. 
Insurance 
SECT

  11. If, under any agreement made 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 7, 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 1976 - 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 its obligations under an
agreement made in pursuance of this Act and the Commission shall comply with
that requirement.

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