{"id":"C1921A00009","name":"Loan Act 1921","slug":"loan-act-1921","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"9 of 1921","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":2941,"registerId":"commonwealth-C1921A00009-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act 1921","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n \n\nLOAN.\n\n \n\nNo. 9 of 1921.\n\nAn Act to authorize the raising of the sum of Five million pounds for certain purposes.\n\n[Assented to 11th November, 1921.]\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 and citation.\n\n1. This Act may be cited as the Loan Act 1921.\n\nAuthority to borrow £5,000,000.\n\n2. The Treasurer may from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911-1918, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the sum of Five million pounds.\n\nPurpose for which money may be borrowed.\n\n3. The amount borrowed shall be issued and applied only for the expenses of borrowing and for the purposes of appropriations made or to be made by law.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1574},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act remains focused on its original narrow purpose of authorizing a specific borrowing facility for Commonwealth expenses, with no expansion beyond the initial monetary authorization and expenditure controls."},"complexity_factors":["Only three operative sections with no definitions or interpretation clauses","Single numerical cap (£5,000,000) with straightforward authorization language","References to external borrowing mechanisms rather than creating new procedural requirements","Standard statutory limitation restricting expenditure to parliamentary appropriations"],"plain_english_summary":"**What this law does**\n\nThis Act gives the Australian government permission to borrow up to £5 million (in 1921 currency) to fund its operations.\n\n**Key details**\n\n* **Who borrows**: The Treasurer can raise the money using existing government borrowing powers—either by selling government bonds (under the *Commonwealth Inscribed Stock Act 1911-1918*) or issuing short-term Treasury Bills.\n* **The limit**: Total borrowing cannot exceed £5 million.\n* **What the money can be used for**: The funds can only cover:\n  * The costs of arranging the loan itself (administrative fees, etc.), and\n  * Expenses that Parliament has already approved through separate funding laws (called \"appropriations\").\n\n**Why it matters**\n\nThis is a \"money bill\" that controls government debt. It ensures the Executive can only borrow what Parliament specifically authorizes and can only spend it on projects Parliament has already approved."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-1921","history":"/api/acts/loan-act-1921/history","analysis":"/api/acts/loan-act-1921/analysis","conflicts":"/api/acts/loan-act-1921/conflicts","importantCases":"/api/acts/loan-act-1921/important-cases","documents":"/api/acts/loan-act-1921/documents"}}