{"id":"C1927A00027","name":"Loan Act (No. 2) 1927","slug":"loan-act-no-2-1927","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"27 of 1927","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":3449,"registerId":"commonwealth-C1927A00027-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act (No. 2) 1927","content":"LOAN (No. 2).\n\nNo. 27 of 1927.\n\nAn Act to authorize the Raising and Expending of certain Sums of Money.\n\n\\[Assented to 18th October, 1927.\\]\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) 1927.\n\nAuthority to borrow £7,600,000.\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 Seven million six 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\nIssue and application of £7,217,696.\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 Seven million two hundred and seventeen thousand six hundred and ninety-six pounds for the purposes set forth in the Schedule to this Act.\n\nSCHEDULE.\n\n```html\n

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

Abstract.

£

£

£

WAR AND REPATRIATION SERVICES.....

900,000

161,829

738,171

PRIME MINISTER’S DEPARTMENT.......

300,000

70,000

230,000

DEPARTMENT OF THE TREASURY.......

1,322,000

..

1,322,000

HOME AND TERRITORIES DEPARTMENT

23,000

..

23,000

DEPARTMENT OF DEFENCE............

428,000

109,520

318,480

DEPARTMENT OF TRADE AND CUSTOMS......

58,658

2,150

56,508

DEPARTMENT OF WORKS AND RAILWAYS...

1,953,000

419,100

1,533,900

POSTMASTER-GENERAL’S DEPARTMENT.....

4,076,000

1,115,350

2,960,650

DEPARTMENT OF HEALTH.............

36,000

2,600

33,400

DEPARTMENT OF MARKETS AND MIGRATION

100,000

100,000

..

REDEMPTIONS—

NORTHERN TERRITORY LOANS.......

4,645

4,645

..

PORT AUGUSTA-OODNADATTA RAILWAY LOANS

9,743

8,156

1,587

TOTAL.....................

9,211,046

1,993,350

7,217,696

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

WAR AND REPATRIATION SERVICES.

£

£

£

Under Control of Department of Defence.

Expenditure arising out of requisition and use of vessels for transport services in connexion with Expeditionary Forces

50,000

..

50,000

Expeditionary Forces—

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

1,640

410

1,230

Liabilities to Imperial Government in respect of Australian prisoners of War in Turkey

25,776

..

25,776

Under Control of Department of Works and Railways.

Expenditure under War Service Homes Act 1918–25 (to be paid to credit of Trust Fund, War Service Homes Account)

822,584

161,419

661,165

Total War and Repatriation Services

900,000

161,829

738,171

THE PRIME MINISTER’S DEPARTMENT.

Under Control of Development and Migration Commission.

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

300,000

70,000

230,000

DEPARTMENT OF THE TREASURY.

Under Control of Department of the Treasury.

Grafton to South Brisbane Railway..............

1,322,000

..

1,322,000

HOME AND TERRITORIES DEPARTMENT.

Under Control of Department of the Treasury.

Loan to the Territory of New Guinea for Works

20,000

..

20,000

Under Control of Department of Works and Railways.

Purchase of properties for Home and Territories Department

3,000

..

3,000

Total Home and Territories Department...........

23,000

..

23,000

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

£

£

£

THE DEPARTMENT OF DEFENCE.

Under Control of Department of Defence.

Machinery and plant for manufacture of munitions not now produced in Australia—towards cost

23,469

12,500

10,969

Under Control of Department of Works and Railways.

Naval Bases, Works and Establishments...........

120,000

30,000

90,000

Construction of drill halls, mobilization stores, ordnance stores, rifle ranges, fortifications, barracks, and other accommodation and engineering works

27,000

5,900

21,100

Towards cost of construction of buildings, hangars, workshops, barracks and earthworks, and preparation of aerial routes and landing grounds:—

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

140,000

35,000

105,000

Civil Aviation.......................

5,700

2,250

3,450

Towards cost of construction of buildings and works generally in connexion with new munitions production at Maribyrnong, Footscray, Lithgow, and Wakefield

100,000

20,000

80,000

Purchase of properties and sites:—

Properties and sites for military purposes........

9,831

3,250

6,581

Properties and sites for Air Services—

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

1,000

500

500

Civil Aviation.......................

1,000

120

880

Total Department of Defence...........

428,000

109,520

318,480

THE DEPARTMENT OF TRADE AND CUSTOMS.

Under Control of Department of Trade and Customs.

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

25,751

700

25,051

Alterations of lighthouse services...............

29,947

1,200

28,747

Establishing means of communication............

1,850

..

1,850

Under Control of Department of Works and Railways.

Construction of two vessels for lighthouse purposes

1,000

250

750

Acquisition of land for Trade and Customs purposes...

110

..

110

Total Department of Trade and Customs

58,658

2,150

56,508

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

THE DEPARTMENT OF WORKS AND RAILWAYS.

£

£

£

Under Control of the Department of Works and Railways.

Expenditure under River Murray Waters Act 1915–23....

293,000

75,000

218,000

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

30,000

250

29,750

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

130

100

30

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

29,870

250

29,620

Trans-Australian Railway....................

180,000

27,500

152,500

North Australia Railway—minor capital works.................

3,700

100

3,600

Central Australia Railway....................

66,000

13,900

52,100

Federal Territory Railway....................

4,800

2,000

2,800

Provision for construction of new railways under the Northern Territory Railway Extension. Act 1923, the Oodnadatta to Alice Springs Railway Act 1926, and rolling stock, and the Railways. (South Australia) Agreement Act 1926 (on account of £4,689,250)

l,345,500

300,000

1,045,500

Total Department of Works and Railways.........

1,953,000

419,100

1,533,900

THE POSTMASTER-GENERAL’S DEPARTMENT.

Under Control of the Postmaster-General’s Department and the Department of Works and Railways.

Construction and extension of telegraphs and telephones; construction of conduits, and laying wires underground; land for Post and’ Telegraph purposes; also Buildings for the Postmaster-General’s Department as set out hereunder:—

4,024,500

1,115,000

2,909,500

Buildings for Postmaster-General’s Department.

New South Wales.

Additions and Alterations.—Ashfield, Berrigan, Boorowa, Canterbury, Chatswood, Condobolin, Cumnock, Dee Why, Dubbo, Glebe, Glen Innes, Goulburn, Grafton, Harden, Homebush, Junee, Kempsey, kogarah, Kyogle, Lismore, Manly, Mendooran, Moulamein, North Sydney, Orange, Parkes, Petersham, Queanbeyan, Randwick, Sydney—City North, Sydney General Post Office, Sydney—Stores Building, Tamworth, Tumbarumba, Uralla, Vaucluse, Wagga Wagga, Waratah, Waverley, West Maitland, West Wyalong

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

4,024,500

1,115,000

2,909,500

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

THE POSTMASTER-GENERAL’S DEPARTMENT—continued.

£

£

£

Brought forward.....................

4,024,500

1,115,000

2,909,500

Buildings for Postmaster-General’s Department—continued.

New South Wales—continued.

New Buildings.—Bexley, Branxton, Burwood, Cootamundra, Drummoyne, Edgecliffe, Griffith, Hamilton, Haymarket, Hurstville, Kandos, Lakemba, Lane Cove, Liverpool, Manly, Maroubra, Merewether, Millthorpe, Newcastle, Newtown, North Strathfield, North Sydney, Ourimbah, Rose Bay, Sydenham, Sydney—City South, Terrigal, Tullamore, Wahroonga, Wardell, Wickham, William Street, Willoughby, Yenda, Yeoval.

Sundry Offices.—For works costing not more than £300 in each case.

Victoria.

Additions and Alterations.—Ararat, Ballarat, Birregurra, Brunswick, Camperdown, Carlton, Coleraine, Dandenong, Dimboola, Donald, Elmore, Frankston, Hamilton, Hawthorn, Lakes Entrance, Maffra, Malvern, Melbourne—Central Exchange, Melbourne—Elizabeth Street, Melbourne General Post Office, Melbourne—Sturt Street, Merino, Morwell, Murtoa, Nagambie, Numurkah, Penshurst, Preston, Rainbow, Rupanyup, Sandringham, Sea Lake, Shepparton, Sorrento, Sunshine, Swan Hill, Warrnambool, Werribee, Windsor

New Buildings.—Beeac, Bentleigh, Box Hill, California Gully, Canterbury, Caulfield East, Cohuna, Cressy, Daylesford, Elsternwick, Glen Iris, Goroke, Melbourne—Telegraph and Telephone Workshops, Melbourne—Electric Telegraph Office and Commonwealth Offices, Murrayville, Northcote, Oakleigh, Pakenham East, Prahran, Quambatook, South Melbourne, Trentham, Yallourn, Yarragon

Sundry Offices.—For works costing not more than £300 in each case.

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

4,024,500

1,115,000

2,909,500

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

THE POSTMASTER-GENERAL’S DEPARTMENT—continued.

£

£

£

Brought forward..........................

4,024,500

1,115,000

2,909,500

Buildings for Postmaster-General’s Department—continued.

Queensland.

Additions and Alterations.—Cairns, Emerald, Inglewood, Mareeba, Nambour, Redcliffe, Rockhampton.

New Buildings.—Allora, Brisbane—Central Exchange, Brisbane—Workshops and Garage, Bulimba, Coorparoo, Greenmount, Hughenden, Maxwelton, Muttaburra, Nundah, Paddington, Pialba, Prairie, Sherwood, South Brisbane, Yeronga.

Sundry Offices.—For works costing not more than £300 in each case.

South Australia.

Additions and Alterations.—Adelaide General Post Office, Adelaide—West Terrace, Angaston, Bordertown, Curramulka, Georgetown, Kapunda, Kilkenny, Milang, Narracoorte, Norwood, Port Augusta, Port Lincoln, Port Pirie, Tumby Bay, Unley.

New Buildings.—Adelaide (Mile End), Brighton, Brinkworth, Bute, Clare, Cook, Eudunda, Glenelg, Hamley Bridge, Henley Beach, Kimba, Kooringa, Port Adelaide, Prospect, Semaphore, West Adelaide, Woodville.

Sundry Offices.—For works costing not more than £300 in each case.

Western Australia.

Additions and Alterations.—Bridgetown, Geraldton, Perth—Stores, Perth General Post Office.

New Buildings.—Corrigin, Cottesloe, Lake Grace, Narembeen, Perth, Perth—Garage, Warrawagine.

Sundry Offices.—For works costing not more than £300 in each case.

Tasmania.

Additions and Alterations.—Hobart.

New Buildings.—Cygnet, Hobart, Hobart—Lineyard, Smithton.

Sundry Offices.—For works costing not more than £300 in each case.

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

4,024,500

1,115,000

2,909,500

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

—

Amount required in 1927–28.

Appropriated under Loan Act (No. 1) 1927.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

THE POSTMASTER-GENERAL’S DEPARTMENT—continued.

£

£

£

Brought forward.......................

4,024,500

1,115,000

2,909,500

Erection of wireless stations and testing and experimental equipment

1,499

350

1,149

Subscription to capital of Amalgamated Wireless Limited..

50,001

..

50,001

Total Postmaster-General’s Department.........

4,076,000

1,115,350

2,960,650

THE DEPARTMENT OF HEALTH.

Under Control of Department of Works and Railways.

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

31,000

2,100

28,900

Acquisition of properties and sites...............

5,000

500

4,500

Total Department of Health............

36,000

2,600

33,400

THE DEPARTMENT OF MARKETS AND MIGRATION.

Under Control of Department of Markets and Migration.

Advances to States and to North Australia and Central Australia for purchase of wire and wire netting (to be paid to credit of Trust Fund Wire and Wire Netting account)

100,000

100,000

..

REDEMPTIONS.

Redemption of loans raised by the Government of South Australia in respect of the Northern Territory

4,645

4,645

..

Redemption of loans raised by the Government of South Australia in respect of the Port Augusta Oodnadatta Railway

9,743

8,156

1,587

Total.........................

9,211,046

1,993,350

7,217,696

\n```","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":1834},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The legislation remains focused on its original purpose: authorising specific borrowing to fund the 1927-28 capital works program. The Schedule provides granular detail on infrastructure projects, but this level of specificity was standard for Loan Acts of this era and does not represent scope creep beyond the intended parliamentary oversight of public borrowing."},"complexity_factors":["Detailed appropriation schedule containing over 100 specific line items for works across all states and territories","Cross-referencing between this Act and Loan Act (No. 1) 1927 to show amounts previously appropriated versus new appropriations","Administrative complexity of tracking expenditures across 11 different government departments and multiple trust funds"],"plain_english_summary":"This Act authorises the Australian Government to borrow up to £7.6 million (1927 currency), via bonds or Treasury bills, to fund specified public works and services. \n\nIt allocates the bulk to railways, post and communications, war and repatriation (including returned soldiers’ homes), immigration passage, defence works, lighthouses/customs and health labs, affecting veterans, migrants, regional infrastructure and national defence."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"No. The Act stays within its core purpose: authorising the Treasurer to raise specified loan money (s.2) and prescribing that proceeds be applied only to borrowing costs and to purposes appropriated by law (s.3). The Schedule allocates the proceeds to named departments, trust accounts and redemptions; it does not expand the statutory purposes beyond those stated."},"complexity_factors":["Large, multi-page Schedule allocating £7,217,696 across many departments, projects, trust funds and redemption items (detailed line items increase reading cost).","Operative text is short but relies on cross-references to other statutes and accounts (e.g. Commonwealth Inscribed Stock Act 1911–1918; War Service Homes Act 1918; several railway Acts), requiring external lookup.","Schedule shows amounts split between prior Loan Act (No. 1) 1927 and this Act, creating an accounting/traceability layer.","Mixed item types: direct appropriations, advances to States/territories, trust‑fund credits and redemptions—each has different fiscal/legal treatments to track.","Drafting uses historical currency and conventions; substantive legal effect is simple (borrow and appropriate) which lowers conceptual complexity despite heavy numerical detail."],"plain_english_summary":"This Act authorises the Commonwealth (through the Treasurer) to borrow up to £7,600,000 (s.2) and directs that £7,217,696 of loan proceeds be issued for the specific items listed in the Schedule. The funds may only be applied to the expenses of borrowing and to purposes appropriated or to be appropriated by law (s.3). It therefore lets the Treasurer raise money (inscribed stock or Treasury bills) and channels the proceeds to named departments, trust accounts and loan redemptions; taxpayers ultimately repay the borrowing."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-no-2-1927","history":"/api/acts/loan-act-no-2-1927/history","analysis":"/api/acts/loan-act-no-2-1927/analysis","conflicts":"/api/acts/loan-act-no-2-1927/conflicts","importantCases":"/api/acts/loan-act-no-2-1927/important-cases","documents":"/api/acts/loan-act-no-2-1927/documents"}}