STATES
GRANTS (HOUSING ASSISTANCE) ACT (No. 2) 1976
No. 141 of 1976
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
Commonwealth.
BE
IT ENACTED by the Queen, and the Senate and House of Representatives of the
Commonwealth of Australia, as follows:—
Short title.
1.
This Act may be cited as the States Grants (Housing Assistance) Act (No. 2) 1976.
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The States Grants (Housing Assistance) Act 1976 is repealed.
Definitions.
4.
In this Act—
“Housing
Agreement”, in relation to a State, means—
(a) the
agreement with that State executed in pursuance of the Housing Agreement Act
1973, as amended by the agreement with that State executed in pursuance of the Housing
Agreement Act 1974; 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“repealed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 the States Grants (Housing Assistance) Act 1976.
Advances to
States.
5.
The Treasurer may, during the period commencing on the date of commencement of
this Act and ending immediately before 1 July 1977, 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 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 immediately before 1 January
1978, in accordance with the provisions of the Commonwealth Inscribed Stock
Act 1911, or in accordance with the provisions of an Act authorizing the
issue of Treasury Bills, borrow moneys not exceeding in the aggregate the sum
of—
(a)
the total amount of advances that may be made to the States under this Act; and
(b)
the expenses of borrowing.
(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section 6 of the repealed Act for the purposes of making payments to the States
in accordance with section 8 of that Act.
Advances made
before commencement of Act.
7.
(1) An advance that was made to a State under section 8 of the repealed Act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 on or after 1 July 1976, and before the commencement of
this Act, shall, if the Treasurer, with the concurrence of that 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 1977-78.
8.
The Treasurer may, during the period of 6 months commencing on 1 July 1977,
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 of 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
moneys borrowed.
10. Moneys borrowed under section 6, and moneys borrowed
under section 6 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 purpose of making advances to the States in accordance with section 5 or 8
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 statement prepared by the Treasurer under section 49 or 50 of the Audit
Act 1901, amounts paid to the Consolidated Revenue Fund under sub-section
(1) of this section or under sub-section 11(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, 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.
SCHEDULE Sections
5 and 8
Column 1 | Column 2 |
1976-77 | 1977-78 |
$ | $ |
New South Wales......................................................... | 123,411,000 | 61,705,500 |
Victoria......................................................................... | 98,159,000 | 49,079,500 |
Queensland................................................................... | 37,410,000 | 18,705,000 |
South Australia............................................................. | 56,360,000 | 28,180,000 |
Western Australia......................................................... | 35,440,000 | 17,720,000 |
Tasmania....................................................................... | 24,220,000 | 12,110,000 |
375,000,000 | 187,500,000 |