Loans Redemption and Conversion Act 1921 (Cth)

Loans Redemption and Conversion Act 1921

Act No. 18 of 1921 as amended

This compilation was prepared on 19 March 2004

taking into account amendments up to Act No. 80 of 1950

The text of any of those amendments not in force

on that date is appended in the Notes section

The operation of amendments that have been incorporated may be

affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting,

Attorney‑General’s Department, Canberra

      

Contents

An Act to authorize the paying off, repurchasing, redeeming and converting of Loans and for other purposes

1Short title [see Note 1]

 This Act may be cited as the Loans Redemption and Conversion Act 1921.

2Interpretation

 In this Act, unless the contrary intention appears, loan includes Inscribed Stock, Registered Stock, Treasury Bills and any other securities issued by the Commonwealth in connexion with the raising of any loan.

3Paying off, repurchasing, redeeming or converting loans

 The Governor-General may authorize the Treasurer to pay off, repurchase or redeem any loan raised either before or after the commencement of this Act by the Commonwealth, or to convert any such loan into any other Commonwealth loan.

4Authority to borrow certain moneys

 The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1918, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow money necessary for the purpose of paying off, repurchasing or redeeming any loan in accordance with this Act.

5Payment of principal, interest and conversion of securities

 The principal moneys borrowed in accordance with this Act, the interest thereon and the costs of converting loans in accordance with this Act, shall be a charge on and payable out of the Consolidated Revenue Fund which is hereby appropriated for the purpose.

6Purpose for which money may be borrowed

 The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purpose of paying off, repurchasing or redeeming loans.

8Regulations

 The Governor-General may make Regulations not inconsistent with this Act, prescribing all matters which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed, for carrying out or giving effect to this Act.

Notes to theLoans Redemption and Conversion Act 1921

Note 1

The Loans Redemption and Conversion Act 1921 as shown in this compilation comprises Act No. 18, 1921 amended as indicated in the Tables below.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Loans Redemption and Conversion Act 1921	18, 1921	15 Dec 1921	15 Dec 1921
Statute Law Revision Act 1950	80, 1950	16 Dec 1950	31 Dec 1950	S. 16

Table of Amendments

ad. = added or inserted  am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
S. 7.........................................	rep. No. 80, 1950