STATES
GRANTS (HOUSING ASSISTANCE)
‘
No.
101 of 1974
An Act to Authorize Advances
to the States of Financial Assistance in connexion with Housing and to
Authorize the Borrowing of Certain Moneys by the Treasurer.
BE IT ENACTED by the Queen,
the Senate and the House of Representatives of Australia, as follows:—
Short title.
1. This
Act may be cited as the States Grants (Housing Assistance) Act
1974.
Commencement.
2. This
Act shall come into operation on the day on which it receives the Royal Assent.
Repeal.
3. The States
Grants (Housing Assistance) Act (No. 2) 1973 is repealed.
Definitions.
4. In
this Act—
“Housing
Agreement”, in relation to a State, means—
(a) the agreement with the State executed in pursuance of the Housing Agreement Act 1973; or
(b) if that agreement is subsequently amended by an agreement or
agreements the execution of which is authorized or approved by the
Parliament—that agreement as so amended;
“repealed
Act” means theStates Grants (Housing Assistance) Act (No. 2) 1973.
Advances to States.
5. The
Treasurer may, during the period commencing on the date of commencement of this
Act and ending on 30 June 1975, make advances to a State, in accordance with
the Housing Agreement with the State, of amounts not exceeding in the aggregate
the amount specified in Column 1 of the Schedule opposite to the name of that
State.
Authority to borrow.
6. (1) Subject to sub-section (2), the
Treasurer may, during the period commencing on the date of commencement of this
Act and ending on 31 December 1975, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911-1973, or in
accordance with the provisions of an Act authorizing the issue of Treasury
Bills, borrow moneys not exceeding in the aggregate $465,000,000.
(2) The aggregate
amount of moneys that may be borrowed under sub-section (1) is reduced by the
sum of any amounts borrowed by the Treasurer in accordance with section 5 of
the repealed Act for the purposes of making payments to the States in
accordance with section 7 of that Act.
Advances made before
commencement of Act.
7. (1) An advance that was made to a State
under section 7 of the repealed Act before the commencement of this Act shall
be deemed to have been an advance made to that State under section 5 of this
Act.
(2) An advance that
was made to a State under section 5 of the Financial
Agreement Act 1928-1966 on or after 1 July 1974, and before the
commencement of this Act, shall, if the Treasurer, with the concurrence of the
State, so determines, be deemed to have been an advance made to that State
under section 5 of this Act.
Advances to States for year 1975-76.
8. The
Treasurer may, during the period of 6 months commencing on 1 July 1975, make
advances to a State, in accordance with the Housing Agreement with that State,
of amounts not exceeding in the aggregate the amount specified in Column 2 in
the Schedule opposite to the name of that State.
Advances to be made out of Consolidated
Revenue Fund or Loan Fund.
9. Advances
to a State under section 5 or 8 may be made out of the Consolidated Revenue
Fund or the Loan Fund.
Application of money borrowed.
10. Moneys
borrowed under section 6, and moneys borrowed under section 5 of the repealed
Act and not applied before the commencement of this Act, shall be issued and
applied only for the expenses of borrowing, for the purposes of making advances
to the States in accordance with section 5 or 8 of this Act and for the purpose
of making payments to the Consolidated Revenue Fund in accordance with section
11.
Reimbursement of Consolidated Revenue Fund
from Loan Fund.
11. (1) Where an amount has been paid out of
the Consolidated Revenue Fund under this Act or under the repealed Act, the
Treasurer may authorize the payment to that Fund, out of the Loan Fund, of an
amount not exceeding the amount so paid.
(2) In any of the
statements of the receipts and expenditure, or of the expenditure, of the
Consolidated Revenue Fund prepared by the Treasurer under section 49 or 50 of
the Audit Act 1901-1973, amounts paid to the
Consolidated Revenue Fund under sub-section (1) of this section or under
sub-section 10(1) of the repealed Act shall not be shown as
receipts of that Fund but shall be shown as having reduced the total of the
amounts expended from that Fund under this Act or the repealed Act.
(3) Where there has
been a payment from the Loan Fund to the Consolidated Revenue Fund under
sub-section (1) in respect of an amount paid out of the Consolidated Revenue
Fund under this Act or the repealed Act, the amount so paid out of the
Consolidated Revenue Fund, shall, for the purposes of sections 9 and 10 of the National Debt
Sinking Fund Act 1966-1967, be deemed to have been paid out of the
Loan Fund.
Appropriation.
12. The Consolidated Revenue Fund and the Loan
Fund are appropriated as necessary for the purposes of this Act.
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SCHEDULE Sections 5 and 8
Column 1 | Column 2 |
1974-75 | 1975-76 |
$ million | $ million |
New South Wales ...................................................................................... | 96.411 | 48.205 |
Victoria....................................................................................................... | 81.159 | 40.580 |
Queensland ................................................................................................ | 27.410 | 13.705 |
South Australia .......................................................................................... | 45.360 | 22.680 |
Western Australia ...................................................................................... | 35.440 | 17.720 |
Tasmania .................................................................................................... | 24.220 | 12.110 |
Total ............................................. | 310.000 | 155.000 |
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