{"id":"C1920A00018","name":"War Loan Act 1920","slug":"war-loan-act-1920","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"18 of 1920","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":2900,"registerId":"commonwealth-C1920A00018-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"War Loan Act 1920","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\nWAR LOAN.\n\n \n\nNo. 18 of 1920.\n\nAn Act to authorize the raising and expending of the sum of Twenty million pounds for War purposes.\n\n[Assented to 29th May, 1920.]\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 War Loan Act 1920.\n\nAuthority to borrow £20,000,000.\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 Twenty million 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 War purposes.\n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1365},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is the original 1920 enactment establishing the borrowing authority specifically for war expenses, consistent with its stated purpose."},"complexity_factors":["Only 3 operative sections","No interpretation section or defined terms","Straightforward authorization without conditional logic or exceptions","Single clear purpose limitation in section 3","Minimal cross-referencing (only to existing borrowing statutes)"],"plain_english_summary":"This Act gives the Australian Government power to borrow up to £20 million (twenty million pounds) to help pay for World War I costs.\n\n**What it does:**\n* **Authorizes borrowing**: The Treasurer can raise money by issuing government bonds (under the *Commonwealth Inscribed Stock Act 1911-1918*) or short-term Treasury Bills\n* **Caps the amount**: The total borrowing cannot exceed £20 million\n* **Restricts spending**: The money can only be used for two things: (1) the costs of arranging the loans themselves, and (2) \"War purposes\" — meaning expenses related to World War I\n\n**Why it matters:**\nPassed in 1920, shortly after WWI ended, this legislation helped Australia manage the enormous debt accumulated during the war. It allowed the government to refinance and pay off war-related obligations by borrowing from the public and financial markets."}},"importantCases":[],"_links":{"self":"/api/acts/war-loan-act-1920","history":"/api/acts/war-loan-act-1920/history","analysis":"/api/acts/war-loan-act-1920/analysis","conflicts":"/api/acts/war-loan-act-1920/conflicts","importantCases":"/api/acts/war-loan-act-1920/important-cases","documents":"/api/acts/war-loan-act-1920/documents"}}