State Debt and Sinking Fund Act 1904 (NSW)
Act No. 19, 1904.
| State D ket and | A l l Act to constitute a g*cncral sinking fu n d ; to carry to the Consolidated Kevcniie Fund payinents made or to he niadc to certain accounts and fu n d s ; to make better ])ro- yision for tlie adm inistration of certain tru s t accounts in the Treasury : to constitute Comniissioiicrs to adm inister tlie said funds and the said tru s t accounts ; and for purposes consecpient thereon or incidental thereto. \ltli Deconber, 1904.] |
| S iNKixr, | F^^D. |
it enacted by the King’s Most Excellent Majesty, by and witli _ D the advice and consent of the Legislative Council and Legislative Assembly of Ncav Soutli M'alcs in Parliament assembled, and by tlie authority of the same, as follows :—
Vreliminat'jj.
| Sliorfc title and | 1. | This Act may be cited as the “ State Debt and Sinking Fund |
| commencement. |
Act, 1904,” and shall (!ome into operation on the first day of July, one thousand nine hundred and five.
The Commissioners.
| Cons^t it ut ion of | 2. | (1) There shall be constituted a board of commissioners, |
| C i nnmissioncrs. | called the “ State Debt Commissioners.” |
(2) The Commissioners shall be the persons holding the
following offices—
the State Treasurer;
the Chief Justice ;
the Speaker of tlu' Legislative Assembly ;
the Under Secretary to the Treasury.
| ■ | 3. |
Act No. 19, 1904.
state Debt and Sinking Fund.
3. The Commissionei's for the time l)eiiifj; shall he a body Commissionors
| corporate, havin" perpetual succession and a common seal. | incoviHimtoi. |
The seal of the Commissioners shall he judicially noticed.
The (Jcncral Sinking Fund.
4. There shall he a i '̂cncral sinkin" fund which shall be Oononii sinking fund,
constituted and managed in pursuance of this Act.
5. There shall l)c issued to the Commissioners and placed by Funds issued to
| them to the credit of the gtmeral sinking fund— | (omnussioners. |
| (a) | the balance at crtalit of the special account established by the llaihvay Loan I’edemjttion Act of 1889; |
(b) the balances at credit of the sinking funds respectively
constituted by the I'ollowing Acts—
the Loan Act of 1891 (No. 2) ;
the Lotin Act of 1895 ;
the Tjoan Act of 1890;
the I.oan Act of 18S)7 ;
the Loan Act of 1898 ;
the J.iOan Act of 1899 ;
((;) Tlie halanci' at credit of the loan trust fund constituted by the Country Towns and llunti'r District Water Sujiply anl Sewerage Acts Ammulment .Act of 189 t ;
| (d) | Tlie balance at credit of thi' special account established by the Loan Act of 1895 ; | ||
| (e) | The balances at credit of the special accounts estahlished by the Treasury Dills Deficiency Act, 1889, the Treasury Dills Deficiency Act of 1895, the Treasury Dills Deficiency Act, 1900, ami the Treasury Dills Deficiency (Amendment) Act, | ||
|
| 6. On such sums being so issued,— | cwng of funds and |
| (a) the said funds and accounts shall he closed; | nunr’Jiav̂ |
| (h) |
future payments to the funds and accounts numtioned in funds, shall cease to he made;
| (e) | future payments directed by the respective Acts to he made to the fund and the account mentioned in paragraphs (c) and (d) of the said section shall, in licui thereof, he made to tlu' g(Mier;d siriking fluid. |
7. 'I'here shall ho issui'd during each financial year from the Vppropriidion of
Consolidated Devenue Lund to the Commissioners, and placed by tl^mi to the credit of the general sinking fund, the amount of three hundred and fifty thousand pounds, and such further amount as Parliament may provide.
Such amount shall be so issued as the Treasurer may direct,
hut so that the whole amount he issued during each financial year.
Application
Act No. 19, 1904.
state Debt and Sinking Fund.
Application o f General Sinking Fund.
| Application of fmui | 8. Tlic Coiiimissioners sliall from time to time ilie ^t ci’cdit of tlic general Sinking fund in purchasing, redeeming, or paying off Government stock, debentures, or Treasury liills, and in the meanwhile shall invest such moneys under this Act. |
| in redeeming stock. |
Trust accounts.
| Trust accounts | 9. | The trust accounts mentioned in the Sclicdule to this Act |
| transferred to |
| Conimis-sioners. | shall he transferi'cd to and administered hy tlu' Commissioners under tlic Acts relating to tlie same, and under this Act. |
Inrcstmcnts.
Tnvestm.'iit of
| siiikiiif' fund and | 10. The Commissioners shall invest in Government securities or on (h'posit with the Ti'casiirer or rvith some hank doing the Government Imsiness all moneys at cri'dit of the general sinking fund, and such of the moneys at credit of the trust accounts administered by them as are not required for withdrawals under the respective Acts relating to those accounts. |
| trust aci'ounts. | |
| Any amounts required for such Avithdrawals may he placed hy the Commissioners in a bank or lodged in the Treasury, and such amounts may, Avith the consent of the Commissioners, he Avithdrawn hy the proper persons. | |
| Commissioners may | 11. The Commissioners may make such n'gulations as they di'cm to he necessary for the carrying out of the purposes of this Act, and such regulations shall, after the approAml hy the Governor, he notilied in the Gazette and have the force of laAA’, and shall he laid upon the Table of both Houses of Parliament without delay. |
| make regulations. |
^^CHEDULE.
Assurance I'uiul, Real Pi'ii)K'rt\' A ct (No. :2.A of 1900).
Hankruptey Estates Account (A ct No. 2o of 1S98).
Bankruptcy Suitor's Eui.d (A ct No. 2.A of 1S9S).
Bankruiitcy Unclaimed Dividend Fund ( .\c t No. 2d of 1S9S).
Municipal Council of S ydiuy Sinking Eund (50 Vic. No. l.'l).
Perpetual Trustee Coinpanv Limited (Pi-ivate Act, IS.SS),
Perm aiu'iit T rustee Companv of New South AA’ales Limited (P rivate .Act, 1S88).
Seamen’s Wages.
'I'e.stamentary and Trust Fund (Perpetual and Perm anent Trustee Companies’ Acts).
T rust Moneys (20 Vic. No. 11).
Unclaimed Moneys.
Act
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