{"id":"C1924A00016","name":"Loan Act (No. 2) 1924","slug":"loan-act-no-2-1924","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"16 of 1924","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":3062,"registerId":"commonwealth-C1924A00016-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act (No. 2) 1924","content":"THE COMMONWEALTH OF AUSTRALIA.\n\n---\n\nLOAN (No. 2).\n\n---\n\nNo. 16 of 1924.\n\nAn Act to authorize the Raising and Expending of certain Sums of Money.\n\n\\[Assented to 25th August, 1924.\\]\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 (No. 2) 1924.\n\nAuthority to borrow £6,450,000.\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 amount of Six million four hundred and fifty 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\nIssue and application of £9,947,304.\n\n4. There may be issued and applied out of the proceeds of any Loan raised under the authority of any Loan Act, including the present Act, the sum of Nine million nine hundred and forty-seven thousand three hundred and four pounds for the purposes set forth in the First Schedule to this Act.\n\nF.13526.—Price 3d.\n\n \nSCHEDULE.\n\n---\n\nABSTRACT.\n\n| | £ |\n| --------------------------------------------------------------------------------------- | --------- |\n| UNDER CONTROL OF PRIME MINISTER’S DEPARTMENT............ | 251,500 |\n| UNDER CONTROL OF DEPARTMENT OF THE TREASURY............ | 398,645 |\n| FEDERAL CAPITAL TERRITORY............................... | 125,000 |\n| UNDER CONTROL OF HOME AND TERRITORIES DEPARTMENT (EXCEPTING FEDERAL CAPITAL TERRITORY) | 85,510 |\n| UNDER CONTROL OF DEPARTMENT OF DEFENCE................. | 53,000 |\n| UNDER CONTROL OF DEPARTMENT OF TRADE AND CUSTOMS....... | 28,000 |\n| UNDER CONTROL OF DEPARTMENT OF WORKS AND RAILWAYS (EXCEPTING FEDERAL CAPITAL TERRITORY) | 3,866,894 |\n| UNDER CONTROL OF POSTMASTER-GENERAL’S DEPARTMENT....... | 3,529,700 |\n| | 8,338,249 |\n| REDEMPTIONS— | |\n| NORTHERN TERRITORY LOANS............................ | 1,016,300 |\n| PORT AUGUSTA OODNADATTA RAILWAY LOANS.............. | 592,755 |\n| | 1,609,055 |\n| Total.......................... | 9,947,304 |\n\n \nSchedule—continued.\n\n```html\n

Under Control of Prime Minister’s Department.

£

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

1,500

Immigration—Advances of passage money, landing money, and medical fees of assisted immigrants

250,000

Total under control of Prime Minister’s Department.............

251,500

Under Control of Department of the Treasury.

Loan to the Territory of New Guinea for works........................

67,000

Loan to State of Queensland to cover advances made to returned soldiers under the Discharged Soldiers Settlement Act 1917, of the State of Queensland, for the purpose of erecting workers’ dwellings

91,645

Construction of ships (to be paid to Trust Fund, Commonwealth Government Ships’ Account)

240,000

Total under control of Department of the Treasury..............

398,645

FEDERAL CAPITAL TERRITORY.

Under Control of Home and Territories Department, Department of Works and Railways, and Health Department.

Works, services, and acquisition of land in Federal Capital Territory..........

120,000

(All receipts from the Federal Capital Territory to be credited to this vote.)

Deduct estimated receipts...................................

10,000

Solar Observatory, Canberra, erection of—towards cost..................

110,000

15,000

Total Federal Capital Territory............................

125,000

Under Control of Home and Territories Department (excepting Federal Capital Territory).

Purchase of properties and sites—

Properties for Home and Territories Department....................

5,000

Properties and sites for Military purposes........................

3,000

Properties and sites for Air Services—

Royal Australian Air Force...............................

9,000

Civil aviation........................................

10,000

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

57,360

Land for Munitions Supply purposes...........................

1,150

Total under control of Home and Territories Department (excepting Federal Capital Territory)

85,510

\n```\n\n \nSchedule —continued.\n\n```html\n

Under Control of Department of Defence.

£

Expeditionary Forces—

Pay and allowances, including amounts due to deceased soldiers’ estates.

9,500

Expenditure in connexion with the distribution of medals and plaques, and other Base Records work incidental to the service and records of members of the Australian Imperial Force

10,000

Employment of temporary staff, advertising, and other expenditure connected with Sales of Surplus War Equipment and Stores

3,000

Miscellaneous expenditure in connexion with the Australian Imperial Force, including special expenditure by the High Commissioner’s Office

500

Transport services in connexion with Expeditionary Forces, including passage money, hire, fitting and reconditioning of ships, wages, coal, victualling, and all other expenditure incidental to such services

30,000

Total under control of Department of Defence..........

53,000

Under Control of Department of Trade and Customs.

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

21,000

Alterations of Lighthouse services.............................

7,000

Total under control of Department of Trade and Customs.......

28,000

Under Control of Department of Works and Railways
(excepting Federal Capital Territory).

Expenditure under War Service Homes Act 1918–23 (to be paid to credit of Trust Fund, War Service Homes Account)

1,800,000

Naval Bases, works and establishments..........................

107,410

Lithgow—Extensions machine shop, steel store, and other buildings.......

315

Lithgow Machine Gun Factory................................

58,100

Maribyrnong Proof Range—towards cost.........................

5,500

Mobilization Stores—Erection of..............................

14,343

Maribyrnong—High explosive factory—towards cost.................

68,500

Maribyrnong—Buildings for engineering factories.—towards cost........

40,000

Footscray—Buildings for fuse and cartridge case manufacture—towards cost.

43,000

Ordnance Stores—Erection of................................

6,007

Expenditure under River Murray Waters Act 1915–20................

246,250

Commonwealth Offices, Sydney—towards cost....................

10,000

Commonwealth Offices, Brisbane—towards cost....................

10,000

Commonwealth Offices, Adelaide—towards cost...................

53,165

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

62,500

Northern Territory Railway..................................

100,000

Port Augusta—Oodnadatta Railway............................

240,000

Serum and Health Laboratories...............................

20,000

Construction of two vessels for Lighthouse purposes—towards cost.......

150,000

Acquisition of and alterations to vessels for Lighthouse purposes.........

20,000

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

3,055,090

\n```\n\n \nSchedule—continued.\n\n| Under Control of Department of Works and Railways | £ |\n| ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- |\n| (excepting Federal Capital Territory)—continued. | |\n| Brought forward...................... | 3,055,090 |\n| buildings for postmaster-general’s department. | |\n| New South Wales. | |\n| Additions and Alterations.—Aberdeen, Albion Park, Ashfield, Berry, Casino, Cessnock, Cootamundra, Dubbo, Edgeclift, Finlay, Glebe, Glen Innes, Gosford, Goulburn, Hurstville, Katoomba, Kogarah, Lismore, Lockhart, Manly, Merriwa, Moruya, Mosman, Murwillumbah, Muswellbrook, North Sydney, Parkes, Petersham, Port Macquarie, Randwick, Rockdale, Singleton, South Grafton, Sydney— City North, Sydney General Post Office, Tamworth, Tocumwal, Tumberumba, Wagga Wagga, Wahroonga, Waverley, Wellington, West Wyalong, Wollongong, Yass | 316,047 |\n| New Buildings.—Artarmon, Barham, Beecroft, Belmore, Boolaroo, Broadmeadow, Broken Hill Railway Town, Bulli, Burwood, Cofi’s Harbour Jetty, Coogee, Cronulla Beach, Dunedoo, Enfield, Erskineville, Euston, Fairfield, Gladstone, Gordon, Guildford, Hamilton, Haymarket, Lakemba, Lawson, Mayfield, Merrylands, Newtown, Oaklands, Roseville, Stockinbingal, Sydenham, Thirroul, Toronto, Turramurra, Warren, Wickham, Sydney—City East, Sydney—City South | |\n| Sundry Offices.—For works costing not more than £300 in each case....... | |\n| Victoria. | |\n| Additions and Alterations.—Ararat, Brighton, Drouin, Hamilton, Heywood, Horsham, Kyabram, Melbourne—Elizabeth-street Private Box Accommodation, Natimuk, Nhill, South Melbourne (Garage), Stawell, Wangaratta, Warracknabeal, Wodonga | |\n| New Buildings.—Albert Park, Armadale, Ascot Vale, Balaclava, Belgrave, Boort, Box Hill, Brunswick East, Bunyip, Canterbury, Carnegie, Chelsea, Cressy, East Melbourne, Elsternwick, Fairfield, Goroke, Hampton, Heyfield, Irymple, Ivanhoe, Lake Boga, Lismore, Macedon Upper, Melbourne (Building for Telegraph Operating Staff and for other purposes), Melbourne (Telephone Workshops), Mentone, Merbein, Mildura, Mooroopna, North Brighton, Northcote, North Melbourne, Oakleigh, Ouyen, Red Cliffs, Ringwood, St. Arnaud, South Melbourne, Stanhope, Thornbury, Tongala, Trafalgar, Ultima, Yallourn | 203,272 |\n| Sundry Offices.— For works costing not more than £300 in each case...... | |\n| Queensland. | |\n| Additions and Alterations.—Brisbane General Post Office, Cairns, Ingham, Innisfail, Ipswich, Longreach, Toowong, Toowoomba, Townsville | |\n| New Buildings.—Albion, Babinda, Blackall, Clermont, Goomeri, Home Hill, Jondowae, Julia Creek, Laidley, Malanda, Mount Larcom, Mundubbera, Muttaburra, Nebo, Newmarket, Nundah, Paddington, Richmond, Sarina, Sherwood, South Brisbane, Toowong, Wallumbilla, Winton, Yarraman, Yeppoon, Yungaburra | 100,874 |\n| Sundry Offices.—For works costing not more than £300 in each case....... | |\n| Carried forward...................... | 3,675,283 |\n\n \nSchedule—continued.\n\n| Under Control of Department of Works and Railways(excepting Federal Capital Territory)—continued. | £ |\n| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- |\n| Brought forward........................... | 3,675,283 |\n| buildings for postmaster-general’s department—continued. | |\n| South Australia. | |\n| Additions and Alterations.—Adelaide General Post Office, Booleroo Centre, Hallet, Norwood, Unley | 138,639 |\n| New Buildings.—Adelaide (Rundle-street), Adelaide (Central Telephone Exchange), Adelaide (West Terrace), Angaston, Barmera, Brighton, Cleve, Croydon, Cummins, Glenelg, Henley Beach, Karoonda, McLaren Vale, Mt. Pleasant, Owen, Paskeville, Port Adelaide, Port Augusta, Prospect, Semaphore, Spalding, Whyalla, Woodville, Yorketown | |\n| Sundry Offices.—For works costing not more than £300 in each case........... | |\n| Western Australia. | |\n| Additions and Alterations.—Collie, Northam, Perth Acquired Area, Pinjarrah..... | 44,715 |\n| New Buildings.—Boyup Brook, Oorrigin, Dalwallinu, Fitzroy, Kununoppin, Manjimup, Mt. Lawley, Mullewa, Nungarin, Perth General Post Office, Quairading, West Guilford, Williams, Wyalkatchem, Wyndham | |\n| Sundry Offices.—For works costing not more than £300 in each case........... | |\n| Tasmania. | |\n| Additions and Alterations.—Launceston (Post Office), Scotsdale.............. | 4,241 |\n| New Buildings.—Burnie, Lilydale, Moonah........................... | |\n| Sundry Offices.—For works costing not more than £300 in each case........... | |\n| Northern Territory. | |\n| Additions and Alterations.—Darwin, Daly Waters....................... | 4,016 |\n| Sundry Offices.—For works costing not more than £300 in each case........... | |\n| Total under control of Department of Works and Railways (excepting Federal Capital Territory) | 3,860,894 |\n| Under Control of Postmaster-General’s Department. | |\n| Construction and extension of telegraphs and telephones, also construction of conduits and laying wires underground | 3,230,000 |\n| Subscription to capital of Amalgamated Wireless Limited.................. | 287,500 |\n| Erection of wireless stations and testing and experimental equipment...... | 12,200 |\n| Total under Control of Postmaster-General’s Department | 3,529,700 |\n| Redemption of loans raised by the Government of South Australia on account of the Northern Territory | 1,016,300 |\n| Redemption of loans raised by the Government of South Australia on account of the Port Augusta-Oodnadatta Railway | 592,755 |\n| Total................................ | 9,947,304 |\n\n---\n\nPrinted and Published for the Government of the Commonwealth of Australia by H. J. Green, Government Printer for the State of Victoria.","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"On its face the Act does not amend the scope of existing borrowing or appropriation statutes; it authorises the Treasurer to borrow (s2), limits application of proceeds to borrowing expenses and legally authorised appropriations (s3), and directs the issue/application of £9,947,304 to the specific items listed in the Schedule (s4 and Schedule). The Act is an enabling, allocative instrument rather than a scope‑expanding amendment of prior Acts."},"complexity_factors":["Cross‑references to other statutes and financing mechanisms: borrowing must be done under the Commonwealth Inscribed Stock Act 1911–1918 or any Act authorising Treasury Bills (section 2) — creates dependency on external statutory procedures and market operations.","Administrative discretion: the Treasurer ‘may from time to time’ borrow the authorised sum (section 2) — grants ongoing executive choice about timing, form, and extent of issuance.","Application constraint and appropriation interface: proceeds may be applied only for borrowing expenses and purposes of appropriations made or to be made by law (section 3) — requires coordination with appropriation law and departmental budgeting.","Large, detailed Schedule: s4 authorises issue/application of £9,947,304 and the Schedule itemises many small and large allocations across multiple departments and trust accounts — increases accounting, allocation and compliance complexity.","Multiple trust accounts and directed payments: Schedule entries direct payments to particular trust funds/accounts (e.g. Government Ships’ Account, War Service Homes Account) and require receipts to be credited to specific votes — complicates flow of funds and reporting.","Redemptions of prior loans: Schedule includes specific redemption amounts for Northern Territory and Port Augusta‑Oodnadatta loans — introduces immediate debt‑service and refinancing considerations.","Operational implementation: issuing inscribed stock or Treasury Bills, crediting receipts to votes, and coordinating works and purchases across portfolio agencies require interdepartmental execution and recordkeeping.","Vintage statutory formatting and currency units: extensive tabular Schedule with many line items and historic pound currency units increases interpretation effort for modern readers and administrators."],"plain_english_summary":"This Act authorises the Treasurer to borrow up to £6,450,000 under existing inscribed‑stock or Treasury‑bill powers and to apply loan proceeds (including £9,947,304) to the departmental votes and loan redemptions listed in the Schedule. It changes the Commonwealth’s borrowing and short‑term financing authority and allocates specific sums to departments and trust accounts, so the Commonwealth (through the Treasurer) decides borrowing methods while creditors and future public revenues bear repayment and borrowing costs."},"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2503},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The legislation maintains its original scope as a specific-purpose borrowing and capital works appropriation act, authorizing exactly what its title and preamble indicate."},"complexity_factors":["Only four short operative sections with no conditional logic","Single-purpose appropriation legislation with straightforward mechanical operation","Schedule contains detailed line-item allocations but no legal exceptions or exemptions","Minimal cross-referencing to other statutes (only three external Acts mentioned)","No delegated powers, regulations, or enforcement mechanisms"],"plain_english_summary":"This Act authorises the Australian Government to borrow up to £6,450,000 and allocates nearly £9.95 million of loan money to specific public works and infrastructure. \n\nIt funds post offices and telecommunications, major rail projects, War Service Homes, Canberra land and a solar observatory, defence and munitions works, immigrant assistance, and repayment of prior Northern Territory railway loans — effectively combining borrowing authority with a detailed 1924 capital‑works spending plan."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-no-2-1924","history":"/api/acts/loan-act-no-2-1924/history","analysis":"/api/acts/loan-act-no-2-1924/analysis","conflicts":"/api/acts/loan-act-no-2-1924/conflicts","importantCases":"/api/acts/loan-act-no-2-1924/important-cases","documents":"/api/acts/loan-act-no-2-1924/documents"}}