{"id":"C1928A00033","name":"Loan Act (No. 2) 1928","slug":"loan-act-no-2-1928","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"33 of 1928","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":3499,"registerId":"commonwealth-C1928A00033-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act (No. 2) 1928","content":"LOAN (No. 2).\n\nNo. 33 of 1928.\n\nAn Act to authorize the Raising and Expending of certain Sums of Money.\n\n\\[Assented to 22nd September, 1928.\\]\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) 1928.\n\nAuthority to borrow £10,700,000.\n\n2. The Treasurer may from time to time under the provisions of the Commonwealth Inscribed Stock Act 1911–1927, or under the provisions of any Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the whole the amount of Ten million seven 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 £10,422,025.\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 Ten million four hundred and twenty-two thousand and twenty-five pounds for the purposes set forth in the Schedule to this Act.\n\n\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\\_\n\nSCHEDULE.\n\n\\_\\_\\_\\_\\_\\_\n\nABSTRACT.\n\n| — | Amount required in 1928-29. | Appropriated under Loan Act (No. 1) 1928. | Appropriated under this Act. |\n| ------------------------------------------------- | --------------------------- | ----------------------------------------- | ---------------------------- |\n| | First Column. | Second Column. | Third Column. |\n| | £ | £ | £ |\n| WAR AND REPATRIATION SERVICES .... | 1,850,000 | 311,255 | 1,538,745 |\n| PRIME MINISTER’S DEPARTMENT....... | 325,000 | 75,000 | 250,000 |\n| DEPARTMENT OF THE TREASURY....... | 675,000 | 100,000 | 575,000 |\n| HOME AND TERRITORIES DEPARTMENT.. | 658,500 | 10,000 | 648,500 |\n| DEPARTMENT OF DEFENCE............ | 273,100 | 66,250 | 206,850 |\n| DEPARTMENT OF TRADE AND CUSTOMS.. | 35,865 | 5,500 | 30,365 |\n| DEPARTMENT OF WORKS AND RAILWAYS | 1,295,000 | 311,000 | 984,000 |\n| POSTMASTER-GENERAL’S DEPARTMENT. | 3,800,000 | 941,500 | 2,858,500 |\n| DEPARTMENT OF HEALTH............. | 21,000 | 5,100 | 15,900 |\n| DEPARTMENT OF MARKETS........... | 230,910 | 40,000 | 190,910 |\n| FEDERAL CAPITAL COMMISSION........ | 3,000,000 | | 3,000,000 |\n| NORTH AUSTRALIA COMMISSION....... | 122,900 | | 122,900 |\n| REDEMPTIONS-PORT AUGUSTA OODNADATTA RAILWAY LOANS | 54,750 | 54,395 | 355 |\n| TOTAL..................... | 12,342,025 | 1,920,000 | 10,422,025 |\n\n \n\nSchedule—continued.\n\n| —— | Amount required in 1928-29. | Appropriated under Loan Act (No. 1) 1928. | Appropriated under this Act. |\n| ----------------------------------------------------------------------------------------------------------------------- | --------------------------- | ----------------------------------------- | ---------------------------- |\n| | First Column. | Second Column. | Third Column. |\n| WAR AND REPATRIATION SERVICES. | £ | £ | £ |\n| Under Control of Department of Defence. | | | |\n| Expenditure arising out of requisition and use of vessels for transport services in connexion with Expeditionary Forces | 50,000 | .. | 50,000 |\n| Under Control of Department of Works and Railways. | | | |\n| Expenditure under War Service Homes Act 1918-25 (to be paid to credit of Trust Fund, War Service Homes Account) | 1,800,000 | 311,255 | 1,488,745 |\n| Total War and Repatriation Services.......... | 1,850,000 | 311,255 | 1,538,745 |\n| ______THE PRIME MINISTER’S DEPARTMENT. | | | |\n| Under Control of Development and Migration Commission. | | | |\n| Immigration—Advances of passage money, landing money and medical fees of assisted immigrants | 300,000 | 75,000 | 225,000 |\n| Under Control of Prime Minister’s Department. | | | |\n| Subscription to capital of Commonwealth Oil Refineries Limited in accordance with Oil Agreement Act 1926 | 25,000 | .. | 25,000 |\n| Total Prime Minister’s Department............... | 325,000 | 75,000 | 250,000 |\n| ______DEPARTMENT OF THE TREASURY. | | | |\n| Under Control of Department of the Treasury. | | | |\n| Grafton to South Brisbane Railway................ | 675,000 | 100,000 | 575,000 |\n| ______HOME AND TERRITORIES DEPARTMENT. | | | |\n| Under Control of Department of the Treasury. | | | |\n| Loan to the Territory of New Guinea for Works | 20,000 | 10,000 | 10,000 |\n| Under Control of Home and Territories Department. | | | |\n| Parliament House, Canberra (to be paid to Federal Capital Commission) | 638,500 | .. | 638,500 |\n| Total Home and Territories Department........ | 658,500 | 10,000 | 648,500 |\n\n \n\nSchedule—continued.\n\n```html\n

—

Amount required in 1928-29.

Appropriated under Loan Act (No. 1) 1928.

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

43,000

10,000

33,000

Acquisition of Small Arms Ammunition Factory, Footscray—Instalments

19,153

..

19,153

Under Control of Department of Works and Railways.

Naval Bases, Works and Establishments.....

72,000

18,000

54,000

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

33,584

8,000

25,584

Towards cost of construction of buildings, hangars, workshops, barracks and earthworks, and preparation of aerial routes and landing grounds for Royal Australian Air Force

60,000

15,000

45,000

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

42,847

15,000

27,847

Purchase of properties and sites:—

Properties and sites for military purposes...

1,516

..

1,516

Properties and sites for Royal Australian Air Force

1,000

250

750

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

273,100

66,250

206,850

_____

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

17,000

3,000

14,000

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

16,000

2,000

14,000

Establishing means of communication......

2,000

500

1,500

Under Control of Department of Works and Railways.

Acquisition of land for Trade and Customs purposes.

865

..

865

Total Department of Trade and Customs.

35,865

5,500

30,365

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

—

Amount required in 1828-29.

Appropriated under Loan Act (No. 1) 1928.

Appropriated under this Act.

First Column.

Second Column.

Third Column.

£

£

£

THE DEPARTMENT OF WORKS AND RAILWAYS.

Under Control or the Department or Works and Railways.

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

250,000

70,000

180,000

Commonwealth Offices, Brisbane—towards cost....

15,000

..

15,000

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

30,000

..

30,000

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

104,000

l9,500

84,500

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

3,000

500

2,500

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

64,000

7,000

57,000

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

4,000

1,000

3,000

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)

825,000

213,000

612,000

Total Department op Works and Railways....

1,295,000

311,000

984,000

______

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 here- under:—

3,745,000

940,000

2,805,000

Buildings for Postmaster-General’s Department.

New South Wales.

Additions and Alterations.—Berrigan, Boorowa, Chatswood, Condobolin, Dee Why, Glen Innes, Goulburn, Grafton, Kensington, Kyogle, Manly, Moulamein, North Sydney, Petersham, Pymble, Queanbeyan, Sydney—City North, Sydney General Post Office, Tamworth, Waverley, West Maitland.

Carried, forward ...............

3,745,000

940,000

2,805,000

\n```\n\n \n\nSchedule—continued.\n\n| ___ | Amount required in 1928-29. | Appropriated under Loan Act (No. 1) 1928. | Appropriated under this Act. |\n| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------- | ----------------------------------------- | ---------------------------- |\n| | First Column. | Second Column. | Third Column. |\n| | £ | £ | £ |\n| THE POSTMASTER-GENERAL’S DEPARTMENT—continued. | | | |\n| Brought forward........... | 3,745,000 | 940,000 | 2,805,000 |\n| Buildings for Postmaster-General’s Department—continued. | | | |\n| New South Wales—continued. | | | |\n| New Buildings.— Arncliffe, Balgowlah, Bexley, Burwood, Drummoyne, Eastlake, Edgecliff, Griffith, Haymarket, Hurstville, Kogarah, Lane Cove, Manly, Maroubra, Newcastle, Newtown, Ourimbah, Pooncarie, Rose Bay, Sydenham, Terrigal, Tullamore, Wickham, Willoughby, Yenda, Yeoval. | | | |\n| Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| Victoria. | | | |\n| Additions and Alterations.—Ararat, Beechworth, Bendigo, Birregurra, Brunswick, Camperdown, Chiltern, Coleraine, Dandenong, Donald, Frankston, Hopetoun, Kyneton, Leongatha, Maffra, Malvern, Melbourne—Central Exchange Melbourne —Elizabeth-street, Melbourne General Post Office, Morwell, Murtoa, Numur-kah, Penshurst, Preston, Rupanyup, Sandringham, Sea Lake, Shepparton, Sorrento, South Melbourne, Swan Hill, Warragul, Warrnambool. | | | |\n| New Buildings.—Beeac, Bentleigh, Box Hill, Caulfield East, Cohuna, Glen Iris, Hawthorn, Hawthorn—Telephone Exchange, Heidelberg, Ivanhoe, Melbourne—Telegraph and Telephone Workshops, Melbourne—Electric Telegraph Office and Commonwealth Offices, Oakleigh, Prahran, Quambatook, Underbool. | | | |\n| Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| Carried forward........... | 3,745,000 | 940,000 | 2,805,000 |\n\n \n\nSchedule—continued.\n\n| — | Amount required in 1928-29. | Appropriated under Loan Act (No. 1) 1928. | Appropriated under this Act |\n| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------- | ----------------------------------------- | --------------------------- |\n| | First Column. | Second Column. | Third Colum |\n| THE POSTMASTER-GENERAL’S DEPARTMENT—continued. | £ | £ | £ |\n| Brought forward.............. | 3,745,000 | 940,000 | 2,805 000 |\n| Buildings for Postmaster-General’s Department—continued. | | | |\n| Queensland. | | | |\n| Additions and Alterations.—Cairns, Dirrinbandi, Emerald, Greenmount, Inglewood, Kingaroy, Mareeba, Redcliffe, Rockhampton.New Buildings.—Allora, Brisbane—Central Ex-change, Brisbane—Workshops and Garage, Bulimba, Coorparoo, Hughenden, Isisford, Muttaburra, Nundah, Paddington, Pialba, Sherwood, South Brisbane, South Johnstone, Yeronga.Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| South Australia. | | | |\n| Additions and Alterations.—Adelaide General Post Office, Adelaide—West Terrace, Kapunda, Norwood, Port Pirie, Tumby Bay, Unley, Yorketown.New Buildings.—Henley Beach, Port Adelaide, Semaphore, West Adelaide, Woodville.Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| Western Australia. | | | |\n| Additions and Alterations.— Geraldton, Perth— Stores. | | | |\n| New Buildings. —Cottesloe, Perth, Warrawagine. | | | |\n| Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| Tasmania. | | | |\n| Additions and Alterations.—Hobart, Queenstown, Sheffield. | | | |\n| New Buildings.—Hobart, Newtown. | | | |\n| Sundry Offices.—For works costing not more than £300 in each case. | | | |\n| Carried forward........... | 3,745,000 | 940,000 | 2,805,000 |\n\n \n\nSchedule—continued.\n\n| ___ | Amount required in 1928-29. | Appropriated under Loan Act (No. 1) 1928. | Appropriated under this Act. |\n| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------- | ----------------------------------------- | ---------------------------- |\n| | First Column. | Second Column. | Third Column. |\n| THE POSTMASTER-GENERAL’S DEPARTMENT—continued. | £ | £ | £ |\n| Brought forward........... | 3,745,000 | 940,000 | 2,805,000 |\n| Erection of wireless stations and testing and experimental equipment | 5,000 | 1,500 | 3,500 |\n| Subscription to capital of Amalgamated Wireless Limited | 50,000 | .. | 50,000 |\n| Total Postmaster-General’s Department..... | 3,800,000 | 941,500 | 2,858,500 |\n| THE DEPARTMENT OF HEALTH. | | | |\n| Under Control of Department of Works and Railways. | | | |\n| Serum and Health Laboratories............. | 17,000 | 5,000 | 12,000 |\n| Acquisition of properties and sites........... | 4,000 | 100 | 3,900 |\n| Total Department of Health....... | 21,000 | 5,100 | 15,900 |\n| THE DEPARTMENT OF MARKETS. | | | |\n| Under Control op Department op Markets. | | | |\n| 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) | 230,910 | 40,000 | 190,910 |\n| ______ | | | |\n| LOAN TO FEDERAL CAPITAL COMMISSION | 3,000,000 | .. | 3,000,000 |\n| LOAN TO NORTH AUSTRALIA COMMISSION | 122,900 | .. | 122,900 |\n| _____REDEMPTIONS. | | | |\n| Redemption of loans raised by the Government of South Australia in respect of the Port Augusta-Oodnadatta Railway | 54,750 | 54,395 | 355 |\n| Total.................. | 12,342,025 | 1,920,000 | 10,422,025 |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2766},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The Act maintains its original purpose of authorizing borrowing for specific capital expenditures. The detailed schedule listing specific projects and amounts is standard for appropriation legislation of this era and does not represent scope expansion beyond the stated purpose of raising and expending sums of money."},"complexity_factors":["Extensive tabular schedule with detailed line-item appropriations across 12 departments","Cross-references to borrowing mechanisms in the Commonwealth Inscribed Stock Act 1911-1927","Numerous specific statutory appropriations requiring reconciliation with previous Loan Act"],"plain_english_summary":"This Act authorizes the Australian Government to raise up to £10.7 million in loans to fund specified capital works and related borrowing costs across multiple departments. It channels money into national infrastructure—war repatriation, the federal capital, rail, communications, defence, northern development and maritime safety—by allocating funds to named projects in a Schedule. It matters because it lets the government borrow for long‑term public works while restricting spending to parliamentary‑approved purposes."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The Act exercises borrowing authority and allocates loan proceeds to specified appropriations and projects as stated. The text itself does not expand or narrow the original borrowing/appropriation purpose beyond those explicit authorisations (ss 2–4 and Schedule)."},"complexity_factors":["Simple statutory mechanics: authorisation to borrow and earmarking of proceeds (ss 2–4)","References to external statutes governing issuance (Commonwealth Inscribed Stock Act 1911–1927; Treasury Bills), requiring cross-reference","Large, detailed Schedule listing many departmental capital items and loans, increasing administrative and accounting complexity","Interaction with prior Loan Act (No. 1) 1928 in the Schedule (comparative appropriations)","Discretionary element: timing and manner of borrowing vested in the Treasurer (s2)","Monetary sums stated in historical currency (£) and apportioned across multiple agencies and commissions"],"plain_english_summary":"This Act authorises the Treasurer to borrow up to £10,700,000 under the Commonwealth Inscribed Stock Act or Treasury Bills and requires that borrowed money be used only for borrowing costs and for purposes covered by appropriations made by law (ss 2–3). It directs that £10,422,025 of loan proceeds be issued for the departmental projects and loans set out in the Schedule (s4). Who pays: the Commonwealth (public debt). Who decides: the Treasurer’s borrowing power and existing appropriation law; effect: specified public spending is financed by new debt (ss 2–4)."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-no-2-1928","history":"/api/acts/loan-act-no-2-1928/history","analysis":"/api/acts/loan-act-no-2-1928/analysis","conflicts":"/api/acts/loan-act-no-2-1928/conflicts","importantCases":"/api/acts/loan-act-no-2-1928/important-cases","documents":"/api/acts/loan-act-no-2-1928/documents"}}