States Grants (Housing Assistance) Act (No. 2) 1973 (Cth)

States Grants (Housing Assistance)

Act (No. 2) 1973

No. 152 of 1973

AN ACT

To Authorize Advances to the States o f Financial Assistance

in connexion with Housing and to Authorize the Borrowing o f Certain Moneys by the Treasurer.

ment.	the Royal Assent.
Repeal.	3. The States Grants (Housing Assistance) Act 1973* (in this Act referred to as “ the repealed Act ”) is repealed. • Act No. 45, 1973.

[Assented to 27 November 1973]

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 (No. 2) 1973.

Commence­ 2. This Act shall come into operation on the day on which it receives

1973 States Grants {Housing Assistance) {No. 2) No. 152

4. The Treasurer may, during the period commencing on the date of commencement of this Act and ending on 30 June 1974, make advances

Advances to States

for year

to a State, in accordance with an agreement with that State executed in

1973- 74.

pursuance of the Housing Agreement Act 1973, of amounts not exceeding in the aggregate the amount specified in the First Column in the Schedule opposite to the name of that State.

5. (1) Subject to sub-section (2), the Treasurer may, during the period commencing on the date of commencement of this Act and ending on

Authority

to borrow.

31 December 1974, in accordance with the provisions of the Common­ wealth Inscribed Stock Act 1911-1966, or in accordance with the pro­ visions of an Act authorizing the issue of Treasury Bills, borrow money not exceeding in the aggregate Three hundred and twenty-seven million nine hundred and seventy-five thousand dollars.

(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sub-section (1) is reduced by the sum of any amounts borrowed by the Treasurer in accordance with section 5 of the repealed Act for the purpose of making payments to the States in accordance with section 3 of that Act.

6. (1) An advance that was made to a State under section 3 of the repealed Act before the commencement of this Act shall be deemed to

Advances

made before

commence­

have been a payment made to that State under section 4 of this Act.

ment

of Act.

(2) An advance that was made to a State under section 5 of the Financial Agreement Act 1928 on or after 1 July 1973, and before the commencement of this Act, shall, if the Treasurer, with the concurrence of the State, so determines, be deemed to have been a payment made to a State under section 4 of this Act.

7. The Treasurer may, during the period of six months commencing on 1 July 1974, make advances to a State, in accordance with an agreement

Advances to

States for

year

with that State executed in pursuance of the Housing Agreement Act 1973,

1974- 75.

of amounts not exceeding in the aggregate the amount specified in the

Second Column in the Schedule opposite to the name of that State.

8. Advances to a State under section 4 or section 7 may be made out of the Consolidated Revenue Fund or the Loan Fund.

Advances to States to be

made out of Consolidated Revenue

Fund or

Loan Fund.

Moneys borrowed under section 5 of this Act, and moneys borrowed under section 5 of the repealed Act and not applied before the commence­	Application of money
borrowed.
ment of this Act, shall be issued and applied only for the expenses of borrowing, for the purpose of making advances to the States in accordance with section 4 and section 7 of this Act and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section

9.

No. 152 States Grants (.Housing Assistance) {No. 2) 1973

Reimburse­	10. (1) Where an amount has been paid out of the Consolidated
ment of

Consolidated	Revenue Fund under this Act or under the repealed Act, the Treasurer
Revenue	may authorize the payment to that Fund, out of the Loan Fund, of an
Fund from
Loan Fund.	amount not exceeding the amount so paid.
(2) In any statement of the receipts and expenditure, or of the ex­ penditure, of the Consolidated Revenue Fund prepared by the Treasurer under section 49 or section 50 of the Audit Act 1901-1969, amounts paid to the Consolidated Revenue Fund under sub-section (1) of this section or under sub-section 7 (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.

Appropri­ 11. The Consolidated Revenue Fund and the Loan Fund are appropri­

ations. ated as necessary for the purposes of this Act.

SCHEDULE Section 4 and 7

First Column Second Column

1973-74	1974-75
$ million	$ million

New South Wales .. .. .. .. .. 86.00 43.000

Victoria	..	..	..	..	..	..	53.50	26.750
Queensland	..	..	..	..	..	..	17.40	8.700
South Australia	..	..	..	..	..	..	32.75	16.375
Western Australia	..	..	..	..	..	13.00	6.500
Tasmania	..	..	..	..	..	..	16.00	8.000

Total .. .. .. .. .. .. 218.65 109.325