Loan Act 1917

Legislation au C1917A00030 Not in force Act

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LOAN.

 

No. 30 of 1917.

An Act to authorize the Raising and Expending of the sum of One million eight hundred and sixty-two thousand pounds for certain purposes.

[Assented to 22nd September, 1917.]

BE it enacted by the Kings 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 Loan Act 1917.

Treasurer may borrow £1,862,000.

2. The Treasurer may from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1915, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of One million eight hundred and sixty-two thousand pounds.

Purpose for which moneys may be expended.

3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purposes set forth in the Schedule to this Act.


SCHEDULE.

Amount estimated to be expended in 1917-18.

Already available under Appropriations made by previous Acts.

Appropriated under this Act.

 

First Column.

Second Column.

Third Column.

 

£

£

£

UNDER CONTROL. OF DEPARTMENT OF WORKS AND RAILWAYS.

 

 

 

Flinders Naval Base—Buildings, Water Power, Light and other works 

45,000

..

45,000

Naval Bases, Works and Establishments—

 

 

 

Labour and Material.....................

213,000

..

213,000

Machinery and Plant and expenditure in connexion therewith 

122,000

..

122,000

Cockatoo Island Dockyard—

 

..

 

Naval Engineering Works.................

80,000

..

80,000

Acetate of Lime Factory, including installation of plant 

34,000

..

34,000

General Arsenal—

 

 

 

Works and Buildings, including erection of residential quarters—towards cost 

100,000

..

100,000

Perth General Post Office—towards cost

45,000

..

45,000

Contribution under River Murray Waters Art 1915...

90,000

..

90,000

Railway from Darwin to Katherine River— Capital Expenditure 

26,000

..

26,000

Kalgoorlie to Port Augusta Railway.............

622,000

622,000

..

Railway from Pine Creek to Katherine River and Southwards 

20,000

20,000

..

Railway—Completion of Construction Line and New Bridge on Queanbeyan Line and additional waterway on Queanbeyan to Canberra Line             

8,300

..

8,300

Capital required for the working of the Plant and Stores Suspense Account established by the Commonwealth Railways Act 1917             

200,000

..

200,000

Total under control of Department of Works and Railways 

1,605,300

642,000

963,300

UNDER CONTROL, OF POSTMASTER GENERALS DEPARTMENT.

 

 

 

For the construction of Conduits and for laying wires underground 

271,239

167,239

104,000

UNDER CONTROL OF THE DEPARTMENT OF DEFENCE (MILITARY).

 

 

 

Acetate of Lime Factory—Machinery and Plant—towards cost 

20,000

..

20,000

General Arsenal—Machinery and Plant—towards cost 

25,000

..

25,000

Total under Control of Department of Defence (Military) 

45,000

..

45,000

Carried forward..........................

1,921,539

809,239

1,112,300


Schedule—continued.

Amount estimated to be expended In 1917-18.

Already available under Appropriations made by previous Acts.

Appropriated under this Act.

 

First Column.

Second Column.

Third Column.

 

£

£

£

Brought forward...............

1,921,539

809,239

1,112,300

UNDER CONTROL OF DEPARTMENT OF THE NAVY.

 

 

 

Cockatoo Island Dockyard—

 

 

 

Machinery and Plant, yard and floating plant.....

100,000

..

100,000

Construction of Fleet......................

400,000

..

400,000

Flinders Naval Depôt—Machinery and Plant.......

35,000

..

35,000

Wireless Telegraphy.......................

15,000

..

15,000

Total under Control of Department of the Navy...

550,000

..

550,000

UNDER CONTROL OF HOME AND TERRITORIES DEPARTMENT.

 

 

 

Purchase of Sites—

 

 

 

Land, Fairy Meadow, New South Wales

8,000

..

8,000

Land lying outside Federal Capital Territory.....

1,500

..

1,500

Land in Federal Capital Territory............

114,680

75,680

39,000

Land for Defence purposes generally..........

38,000

..

38,000

Land for Naval Defence purposes, Cock-burn Sound 

20,000

..

20,000

Land for Port Stephens Naval Base...........

25,000

..

25,000

Land for Post and Telegraph purposes.........

3,000

3,000

..

Land for Lighthouse Workshop, Store and Offices, Port Adelaide 

4,500

..

4,500

Land for Lighthouse Workshop, Store and Offices, Brisbane 

4,000

..

4,000

Land for Quarantine Stations, Lytton, Queensland, and Bunbury, Western Australia 

500

..

500

Land for Laboratory at Royal Park, Melbourne....

8,100

..

8,100

Total under Control of Home and Territories Department 

227,280

78,680

148,600

UNDER CONTROL OF DEPARTMENT OF TRADE AND CUSTOMS.

 

 

 

New Lighthouses (including upkeep of vessels for construction work) and optical and other apparatus for lightships             

40,000

..

40,000

Additions to existing lighthouses...............

11,100

..

11,100

Total under Control of Department of Trade and Customs 

51,100

..

51,100

UNDER CONTROL OF PRIME MINISTERS DEPARTMENT.

 

 

 

London Offices..........................

100,000

100,000

..

Total............................

£2,849,919

£987,919

£1,862,000

 

Overview

The Loan Act 1917 was enacted to authorise the raising and expending of the sum of One million eight hundred and sixty-two thousand pounds for certain purposes. The Act was passed by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia. The primary purpose of this Act was to allow the Treasurer to borrow moneys not exceeding in the whole the amount of One million eight hundred and sixty-two thousand pounds, which were to be issued and applied only for the expenses of borrowing and for the purposes set forth in the Schedule to this Act. This Act provided the necessary funding for various projects including the construction of naval bases, dockyards, arsenals, and railways, as well as other infrastructure and military-related expenses, as detailed in the accompanying schedule. The enactment of the Loan Act 1917 was crucial during a time of significant national expenditure related to military and infrastructure needs. The Act facilitated the necessary financial resources to support the war effort and national development projects. By clearly outlining the purposes for which the funds could be expended, the Act ensured that the borrowed moneys were applied effectively and efficiently to meet the nation's critical needs.

Scope and Application

The Loan Act 1917 applies to the Commonwealth of Australia and authorises the Treasurer to borrow up to £1,862,000 under the provisions of the Commonwealth Inscribed Stock Act 1911-1915 or any Act permitting the issue of Treasury Bills. The funds raised through this borrowing are to be used for the purposes outlined in the Schedule attached to the Act. The expenses covered by this appropriation include the construction and maintenance of naval bases, dockyards, arsenals, railway infrastructure, and other defence-related projects as well as the purchase of land for various governmental purposes. This Act provides a financial framework for significant infrastructure and defence-related expenditures during 1917-18, with specific allocations listed for different government departments such as Works and Railways, Defence, Navy, Home and Territories, Trade and Customs, and the Prime Minister’s Department. The Act does not explicitly state any exclusions or exemptions, and its application is not extended or restricted through subordinate instruments within the text provided.

Key Provisions

The Loan Act 1917 (sections 1-3) authorises the Treasurer to borrow up to £1,862,000, which must be spent as per the schedule outlined in the Act. This borrowing power can be exercised under the Commonwealth Inscribed Stock Act 1911-1915 or any Act permitting the issuance of Treasury Bills. The funds raised are intended solely for the expenses related to borrowing and for the specified purposes detailed in the Act's Schedule. The obligations under this Act are specific to the allocation and application of the borrowed funds. The Schedule meticulously lists the expenditures, categorising them under various departments such as Works and Railways, Defence, Navy, Home and Territories, Trade and Customs, and the Prime Minister’s Department. Each department has a designated amount to be used for particular projects, such as the construction of naval bases, railways, lighthouses, and land acquisitions for defence and public purposes. Breaches of the Act’s provisions could lead to various civil or criminal consequences, though the Act does not explicitly detail the penalties for non-compliance. However, in general terms, failure to adhere to the specified purposes for which the funds are borrowed and expended could result in legal actions or financial repercussions. Given the historical context and the nature of the Act, it is likely that significant deviations from the prescribed uses of the funds could attract scrutiny and potential penalties as per other relevant legislative frameworks in place at the time.

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.