{"id":"C1934A00047","name":"Loan Act (No. 2) 1934","slug":"loan-act-no-2-1934","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"47 of 1934","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":3693,"registerId":"commonwealth-C1934A00047-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Loan Act (No. 2) 1934","content":"LOAN (No. 2).\n\nNo. 47 of 1934.\n\nAn Act to Authorize the Raising of a certain Sum of Money and for other purposes.\n\n\\[Assented to 16th November, 1934.\\]\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) 1934.\n\nTreasurer may borrow £5,050,000.\n\n2. The Treasurer may, from time to time, under the provisions of the Commonwealth Inscribed Stock Act 1911–1933, 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 and fifty thousand pounds.\n\nPurposes for which money may be expended.\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 £200,000.\n\n4. There may be issued and applied out of the proceeds of any Loan raised under the authority of any Loan Act, including this Act, the sum of Two hundred thousand pounds for the purposes set forth in the Schedule to this Act.\n\n  \n\nTHE SCHEDULE.\n\n| —                                                                     | Appropriated by this Act. |\n| --------------------------------------------------------------------- | ------------------------- |\n| THE POSTMASTER-GENERAL’S DEPARTMENT.                                  |                           |\n| Under Control of the Postmaster-General’s Department.                 | £                         |\n| Telephone exchange services; trunk line services..................... | 200,000                   |","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1437},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The legislation remains exactly as intended—a standard appropriation and borrowing authority for 1934. It authorizes the specific amount stated (£5,050,000) and allocates the specific telephone infrastructure funding listed in the Schedule without expansion into other policy areas."},"complexity_factors":["Only 4 operative sections plus a one-line schedule","No defined terms or interpretation section","Single straightforward purpose (borrow money for appropriations)","Minimal cross-referencing (only to existing borrowing legislation)","Linear structure with no conditional provisions, exceptions, or nested clauses"],"plain_english_summary":"This Act authorises the federal Treasurer to borrow up to £5,050,000 (about £5 million) by issuing government stock or Treasury bills to meet government spending and loan-related costs. It specifically earmarks £200,000 for the Postmaster‑General’s Department to expand telephone exchange services and trunk lines.\n\nIt matters because it is a supply law: Parliament’s statutory approval is required to authorise government borrowing and fund public infrastructure, here focused on telecommunications."}},"importantCases":[],"_links":{"self":"/api/acts/loan-act-no-2-1934","history":"/api/acts/loan-act-no-2-1934/history","analysis":"/api/acts/loan-act-no-2-1934/analysis","conflicts":"/api/acts/loan-act-no-2-1934/conflicts","importantCases":"/api/acts/loan-act-no-2-1934/important-cases","documents":"/api/acts/loan-act-no-2-1934/documents"}}