{"id":"C1928L00040","name":"Federal Capital Commission (Finance) Regulations","slug":"federal-capital-commission-finance-regulations","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"40 of 1928","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":21411,"registerId":"commonwealth-C1928L00040-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Federal Capital Commission (Finance) Regulations","content":"STATUTORY RULES.\n\n1928\\. No. 40.\n\nREGULATIONS UNDER THE SEAT OF GOVERNMENT (ADMINISTRATION) ACT 1924-1926.\n\nI, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Seat of Government (Administration) Act 1924-1926, to come into operation forthwith.\n\nDated this fifteenth day of May, 1928.\n\nSTONEHAVEN\n\nGovernor-General.\n\nBy His Excellency’s Command,\n\nNEVILLE HOWSE\n\nMinister of State for Home and Territories.\n\nFederal Capital Commission (Finance) Regulations.\n\nShort title.\n\n1. These Regulations may be cited as the Federal Capital Commission (Finance) Regulations.\n\nRate of Interest under section 21 (1) of the Act.\n\n2.—(1.) The rate of interest for which the Commission shall be liable, under sub-section (1.) of section 21 of the Seat of Government (Administration) Act 1924-1926, shall be Two pounds ten shillings per centum per annum.\n\n(2.) The periods in respect of which interest shall be calculated shall be, in respect of the expenditure in each financial year prior to the commencement of that Act, the period commencing on the first day of July next after the close of that financial year and ending on the thirty-first day of December, 1924.\n\nRate of Interest under section 21 (s) of the Act.\n\n3. The rate of interest for which the Commission shall be liable under sub-section (3.) of section 21 of the Seat of Government (Administration) Act 1924-1926 upon the amount of the liability of the Commission as at the commencement of that Act shall be Two pounds ten shillings per centum per annum.\n\nBy Authority: H. J. Green, Government Printer, Canberra.\n\n606.—Price 3d.","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1944},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The regulations remain strictly limited to the specific authority granted by section 21 of the Seat of Government (Administration) Act 1924-1926, prescribing only the interest rates for the Commission's liabilities as explicitly authorised."},"complexity_factors":["Only three short regulations with no subsections beyond (1) and (2)","No defined terms, interpretation section, or schedules","Single fixed numerical rate (£2 10s per centum) with no conditional logic or exceptions","Minimal cross-referencing limited to specific section citations of the parent Act"],"plain_english_summary":"These regulations set the **interest rate** that the Federal Capital Commission (the body building Canberra) had to pay to the Commonwealth Government on public money it used.\n\n**What it does:**\n- Sets the interest rate at **£2 10 shillings per £100 per year** (2.5% per annum) on the Commission's debts\n- **Regulation 2** applies to money spent *before* the Seat of Government Act started operating. Interest on this spending ran from 1 July after each financial year ended until 31 December 1924.\n- **Regulation 3** applies to debts the Commission already owed when the Act first commenced.\n\n**Why it matters:** These rules established the financial cost of borrowing for the construction of the national capital, ensuring the Commission paid interest on public funds used to develop Canberra, rather than receiving interest-free government money."}},"importantCases":[],"_links":{"self":"/api/acts/federal-capital-commission-finance-regulations","history":"/api/acts/federal-capital-commission-finance-regulations/history","analysis":"/api/acts/federal-capital-commission-finance-regulations/analysis","conflicts":"/api/acts/federal-capital-commission-finance-regulations/conflicts","importantCases":"/api/acts/federal-capital-commission-finance-regulations/important-cases","documents":"/api/acts/federal-capital-commission-finance-regulations/documents"}}