{"id":"C1912A00022","name":"Loan Act 1912","slug":"loan-act-1912","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"22 of 1912","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":18699,"registerId":"commonwealth-C1912A00022-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act 1912","content":"LOAN.\n\nNo. 22 of 1912.\n\nAn Act to authorize the raising and expending of the sum of Five hundred and twenty-nine thousand five hundred and twenty-six pounds for the acquisition for Commonwealth purposes of property in Perth, Western Australia, and expenses incidental thereto, and to redeem loans raised by the Government of South Australia on account of the Northern Territory and the Port Augusta Railway.\n\n\\[Assented to 24th December, 1912.\\]\n\nBE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—\n\nShort title.\n\n1. This Act may be cited as the Loan Act 1912.\n\nTreasurer may borrow £529,526.\n\n2. The Treasurer may from time to time under the provisions of the Commonwealth Inscribed Stock Act 1911 borrow moneys not exceeding in the whole the amount of Five hundred and twenty-nine thousand five hundred and twenty-six pounds.\n\nPurposes for which money may be expended.\n\n3. 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.\n\n  \n\nSCHEDULE.\n\n| 1. For the acquisition for Commonwealth purposes of property in Perth, Western Australia and expenses incidental thereto | £153,000 |\n| ------------------------------------------------------------------------------------------------------------------------ | -------- |\n| 2. To redeem loans raised by the Government of South Australia on account of the Northern Territory                      | 71,945   |\n| 3. To redeem loans raised by the Government of South Australia on account of the Port Augusta Railway                    | 304,581  |\n|                                                                                                                          | £529,526 |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1983},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation precisely matches its stated purpose, authorising exactly the borrowing and expenditure described in the long title for the specific purposes itemised in the Schedule."},"complexity_factors":["Only three operative sections plus a simple schedule","Single cross-reference to the Commonwealth Inscribed Stock Act 1911","No defined terms, interpretation section, or conditional logic","Straightforward allocation of funds with no exceptions or sub-delegation"],"plain_english_summary":"This Act authorises the Australian Government to borrow **£529,526** (a substantial sum in 1912) for three specific purposes.\n\n**What the money is for:**\n* **Perth property**: £153,000 to buy land and buildings in Perth, Western Australia for federal government use.\n* **Northern Territory handover**: £71,945 to pay off loans that South Australia had taken out to manage the Northern Territory (which had recently been transferred from state to federal control).\n* **Railway debts**: £304,581 to clear remaining loans South Australia raised to build the Port Augusta Railway.\n\nIn plain terms, this legislation settles South Australia's historical infrastructure debts with the Commonwealth while also funding a federal property purchase in Perth."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-1912","history":"/api/acts/loan-act-1912/history","analysis":"/api/acts/loan-act-1912/analysis","conflicts":"/api/acts/loan-act-1912/conflicts","importantCases":"/api/acts/loan-act-1912/important-cases","documents":"/api/acts/loan-act-1912/documents"}}