National Security (Guarantee) Regulations (Cth)

STATUTORY RULES.

1940. No. 136.

––––––

REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1940.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the National Security Act 1939-1940.

Dated this

day of , 1940.

Governor-General.

By His Excellency’s Command,

for and on behalf of the Minister of State for Defence Co-ordination.

 

National Security (Guarantee) Regulations.

Citation.

1. These Regulations may be cited as the National Security (Guarantee) Regulations.

Definitions.

2. In these Regulations, “essential goods” means goods which are, and “essential work” means work which is, in the opinion of a Minister, essential for securing the defence of Australia.

Guarantees by Commonwealth and Commonwealth Bank in respect of loans.

3.—(1.) The Treasurer may, for and on behalf of the Commonwealth, guarantee the repayment to the Commonwealth Bank of Australia of any loan (including interest thereon) made (whether before or after the commencement of this regulation) by that bank to any person for the purposes of engaging in essential work or acquiring essential goods, or for any purpose incidental thereto.

(2.) Where the Commonwealth Bank of Australia has guaranteed the repayment of any loan (including interest thereon) made (whether before or after the commencement of this regulation) to any person for the purposes of engaging in essential work or acquiring essential goods, or for any purpose incidental thereto, the Treasurer may, for and on behalf of the Commonwealth, guarantee repayment to that bank of any sum paid by that bank in pursuance of its guarantee.

 

* Notified in the Commonwealth Gazette on    , 1940.

4279.—8/12.7.1940.—Price 3d.

 

Agreements for purchase, &c., of essential goods.

4.—(1.) A Minister may, for and on behalf of the Commonwealth, enter into an agreement in relation to the purchase, acquisition, manufacture, production or storing by any person of any essential goods, and in relation to the disposal or realization of the whole or any portion of those goods.

(2.) Any such agreement may provide for any matters incidental to the purposes specified in the last preceding sub-regulation, including payment by the Commonwealth of the whole or any portion of the loss (if any) sustained by the person with whom the agreement is made by reason of the disposal or realization of any of the goods at the direction of a Minister.

 

By Authority: L.F. Johnston, Commonwealth Government Printer, Canberra.