{"id":"C1921A00017","name":"Loan Act (No. 2) 1921","slug":"loan-act-no-2-1921","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"17 of 1921","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":2948,"registerId":"commonwealth-C1921A00017-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act (No. 2) 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 (No. 2).\n\n \n\nNo. 17 of 1921.\n\nAn Act to authorize the raising of the sum of Four million five hundred thousand pounds for certain purposes.\n\n[Assented to 15th December, 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 (No. 2) 1921.\n\nAuthority to borrow £4,500,000.\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 Four million five hundred thousand 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\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1598},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is the original 1921 enactment; the scope remains strictly limited to authorizing the specific £4.5 million borrowing facility for approved appropriations."},"complexity_factors":["Only 3 short sections with no subsections or schedules","No defined terms or interpretation section","Single, unconditional purpose with no exceptions or conditional logic","Minimal cross-referencing (only one reference to existing legislation)"],"plain_english_summary":"**What this law does**\n\nThis Act gives the Australian Government permission to borrow up to £4.5 million (in 1921 currency) to fund public spending.\n\n**Key points:**\n\n* **Borrowing power**: The Treasurer can raise money by selling government bonds (under the *Commonwealth Inscribed Stock Act*) or issuing Treasury Bills (short-term government debt).\n* **Spending limit**: The total borrowing cannot exceed £4,500,000.\n* **How the money is used**: The borrowed funds can only pay for:\n  * The costs of arranging the loans (such as bank fees), and\n  * Government programs that Parliament has approved (or will approve) through separate spending bills."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-no-2-1921","history":"/api/acts/loan-act-no-2-1921/history","analysis":"/api/acts/loan-act-no-2-1921/analysis","conflicts":"/api/acts/loan-act-no-2-1921/conflicts","importantCases":"/api/acts/loan-act-no-2-1921/important-cases","documents":"/api/acts/loan-act-no-2-1921/documents"}}