WAR LOAN (UNITED KINGDOM) (No. 2)
No. 24 of 1916.
An Act to
authorize the borrowing of money from the Government of the United Kingdom for
War purposes.
[Assented
to 30th May, 1916.]
BE it enacted by the King’s Most
Excellent Majesty, the Senate, and the House of Representatives of the
Commonwealth of Australia, as follows:—
Short
title.
1. This Act may be cited as the War Loan Act (United
Kingdom)(No. 2) 1916.
Authority
to borrow £25,000,000.
2. The Treasurer may borrow Twenty-five million pounds
from the Government of the United Kingdom.
Conditions
of loan.
3. The rate of interest, the date of repayment
and the form of security issued in respect of borrowings under this Act, may be
such as are approved by the Governor-General.
Payment
of principal and interest.
4. The principal moneys borrowed under this Act
shall be repayable, and the interest thereon shall be payable, out of the
Consolidated Revenue Fund, which is hereby appropriated for the purpose.
Purpose
for which money may be expended.
5. The amount borrowed under this Act shall be
issued and applied only to the expenses of borrowing and for war purposes:
Provided that out of such amount temporary advances may be made to States in
accordance with the States Loan Act 1916.
Regulations.
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