DEFENCE EQUIPMENT.
No. 20 of 1934.
An Act to grant and apply out of the Consolidated Revenue Fund the sum of Four million one hundred and sixty thousand pounds for Naval Construction and for other Defence purposes.
[Assented to 4th August, 1934.]
Preamble.
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—
Short title.
1. This Act may be cited as the Defence Equipment Act 1934.
Defence Equipment Trust Account.
2.—(1.) For the purposes of this Act there shall be a Trust Account which shall be known as the Defence Equipment Trust Account.
(2.) The account established in pursuance of this section shall be a Trust Account for the purposes of section sixty-two a of the Audit Act 1901-1926.
Payment to Trust Account.
3. There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly, to the credit of the Defence Equipment Trust Account the amount of Four million one hundred and sixty thousand pounds.
Payments from Trust Account.
4. The moneys standing to the credit of the Defence Equipment Trust Account may be applied—
(a) for naval construction;
(b) for the purchase of arms, armament, aircraft, munitions, equipment, machinery, plant, and reserves of ammunition and oil fuel; and
(c) for defence works and buildings and the acquisition of sites therefor.